Outfront Media (OUT)
Market Price (6/3/2026): $31.47 | Market Cap: $5.5 BilSector: Real Estate | Industry: Other Specialized REITs
Outfront Media (OUT)
Market Price (6/3/2026): $31.47Market Cap: $5.5 BilSector: Real EstateIndustry: Other Specialized REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Digital Advertising. Themes include Ad-Tech Platforms. | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 74% Stock price has recently run up significantly12M Rtn12 month market price return is 102% Key risksOUT key risks include [1] a significant revenue dependence on key municipal transit contracts that are subject to non-renewal or termination. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Digital Advertising. Themes include Ad-Tech Platforms. |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 74% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 102% |
| Key risksOUT key risks include [1] a significant revenue dependence on key municipal transit contracts that are subject to non-renewal or termination. |
Qualitative Assessment
AI Analysis | Feedback
Outfront Media (OUT) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strong First Quarter 2026 Financial Results and Positive Guidance.
OUTFRONT Media reported robust financial performance for the first quarter ended March 31, 2026. The company's revenues increased by 10.0% year-over-year to $429.6 million. Adjusted OIBDA saw a significant rise of 56.4%, reaching $100.4 million, and Adjusted FFO (AFFO) attributable to OUTFRONT Media Inc. surged by 125.1% to $61.0 million compared to the same prior-year period. Management provided a positive outlook, anticipating consolidated AFFO to grow in the mid-teens for 2026 relative to 2025.
2. Favorable Analyst Upgrades and Increased Price Targets.
Several financial analysts issued positive ratings and increased their price targets for OUTFRONT Media during this period. On February 27, Wells Fargo & Company raised its target price from $27.00 to $30.00, maintaining an "overweight" rating. Subsequently, on May 12, TD Cowen reiterated a "buy" rating and increased its target price from $32.00 to $38.00. Barrington Research also set a $38.00 target price on May 12, 2026, and Morgan Stanley set a $37.00 target price on May 8, 2026. Additionally, Wall Street Zen upgraded the stock from a "buy" to a "strong-buy" rating on May 30, 2026.
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Stock Movement Drivers
Fundamental Drivers
The 10.3% change in OUT stock from 2/28/2026 to 6/2/2026 was primarily driven by a 24.4% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.51 | 31.46 | 10.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,832 | 1,871 | 2.1% |
| Net Income Margin (%) | 8.0% | 10.0% | 24.4% |
| P/E Multiple | 33.1 | 29.6 | -10.6% |
| Shares Outstanding (Mil) | 170 | 176 | -2.8% |
| Cumulative Contribution | 10.3% |
Market Drivers
2/28/2026 to 6/2/2026| Return | Correlation | |
|---|---|---|
| OUT | 10.3% | |
| Market (SPY) | 11.0% | 57.0% |
| Sector (XLRE) | -0.1% | 46.3% |
Fundamental Drivers
The 36.9% change in OUT stock from 11/30/2025 to 6/2/2026 was primarily driven by a 45.6% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.99 | 31.46 | 36.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,812 | 1,871 | 3.3% |
| Net Income Margin (%) | 6.9% | 10.0% | 45.6% |
| P/E Multiple | 30.9 | 29.6 | -4.4% |
| Shares Outstanding (Mil) | 167 | 176 | -4.7% |
| Cumulative Contribution | 36.9% |
Market Drivers
11/30/2025 to 6/2/2026| Return | Correlation | |
|---|---|---|
| OUT | 36.9% | |
| Market (SPY) | 11.8% | 40.0% |
| Sector (XLRE) | 6.2% | 34.7% |
Fundamental Drivers
The 101.8% change in OUT stock from 5/31/2025 to 6/2/2026 was primarily driven by a 201.9% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.59 | 31.46 | 101.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,813 | 1,871 | 3.2% |
| Net Income Margin (%) | 14.6% | 10.0% | -31.7% |
| P/E Multiple | 9.8 | 29.6 | 201.9% |
| Shares Outstanding (Mil) | 166 | 176 | -5.2% |
| Cumulative Contribution | 101.8% |
Market Drivers
5/31/2025 to 6/2/2026| Return | Correlation | |
|---|---|---|
| OUT | 101.8% | |
| Market (SPY) | 30.4% | 32.6% |
| Sector (XLRE) | 7.8% | 40.5% |
Fundamental Drivers
The 174.4% change in OUT stock from 5/31/2023 to 6/2/2026 was primarily driven by a 82.9% change in the company's P/E Multiple.| (LTM values as of) | 5312023 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.47 | 31.46 | 174.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,794 | 1,871 | 4.2% |
| Net Income Margin (%) | 6.3% | 10.0% | 57.2% |
| P/E Multiple | 16.2 | 29.6 | 82.9% |
| Shares Outstanding (Mil) | 161 | 176 | -8.5% |
| Cumulative Contribution | 174.4% |
Market Drivers
5/31/2023 to 6/2/2026| Return | Correlation | |
|---|---|---|
| OUT | 174.4% | |
| Market (SPY) | 88.9% | 52.4% |
| Sector (XLRE) | 33.8% | 54.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| OUT Return | 38% | -34% | -8% | 41% | 41% | 33% | 120% |
| Peers Return | 52% | -31% | 17% | -5% | 19% | 12% | 55% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| OUT Win Rate | 67% | 42% | 42% | 58% | 67% | 67% | |
| Peers Win Rate | 69% | 39% | 42% | 44% | 47% | 61% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 67% | |
Max Drawdowns [4] | |||||||
| OUT Max Drawdown | -16% | -46% | -58% | -18% | -30% | -11% | |
| Peers Max Drawdown | -28% | -48% | -42% | -23% | -31% | -12% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LAMR, CCO, BOC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/2/2026 (YTD)
How Low Can It Go
| Event | OUT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.8% | -18.8% |
| % Gain to Breakeven | 40.4% | 23.1% |
| Time to Breakeven | 119 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -42.8% | -9.5% |
| % Gain to Breakeven | 74.9% | 10.5% |
| Time to Breakeven | 81 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.9% | -6.7% |
| % Gain to Breakeven | 36.7% | 7.1% |
| Time to Breakeven | 484 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -42.0% | -24.5% |
| % Gain to Breakeven | 72.4% | 32.4% |
| Time to Breakeven | 1138 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -73.7% | -33.7% |
| % Gain to Breakeven | 280.4% | 50.9% |
| Time to Breakeven | 2072 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -12.3% | -19.2% |
| % Gain to Breakeven | 14.1% | 23.8% |
| Time to Breakeven | 15 days | 105 days |
In The Past
Outfront Media's stock fell -28.8% during the 2025 US Tariff Shock. Such a loss loss requires a 40.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | OUT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -28.8% | -18.8% |
| % Gain to Breakeven | 40.4% | 23.1% |
| Time to Breakeven | 119 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -42.8% | -9.5% |
| % Gain to Breakeven | 74.9% | 10.5% |
| Time to Breakeven | 81 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.9% | -6.7% |
| % Gain to Breakeven | 36.7% | 7.1% |
| Time to Breakeven | 484 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -42.0% | -24.5% |
| % Gain to Breakeven | 72.4% | 32.4% |
| Time to Breakeven | 1138 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -73.7% | -33.7% |
| % Gain to Breakeven | 280.4% | 50.9% |
| Time to Breakeven | 2072 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.5% | -12.2% |
| % Gain to Breakeven | 30.8% | 13.9% |
| Time to Breakeven | 117 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -32.1% | -6.8% |
| % Gain to Breakeven | 47.3% | 7.3% |
| Time to Breakeven | 333 days | 15 days |
In The Past
Outfront Media's stock fell -28.8% during the 2025 US Tariff Shock. Such a loss loss requires a 40.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Outfront Media (OUT)
AI Analysis | Feedback
Outfront Media (OUT) is:
- Google for outdoor advertising.
- Amazon for outdoor ad space.
AI Analysis | Feedback
- Billboard Advertising Services: Providing advertising space on a large network of traditional and digital billboards.
- Transit Advertising Services: Offering advertising opportunities across various public transportation systems, including buses, subways, and rail.
- Out-of-Home Advertising Technology Platform: A proprietary technology platform designed to optimize, manage, and enhance audience engagement for advertisers across their assets.
AI Analysis | Feedback
Outfront Media (symbol: OUT) primarily sells its services to other companies, which are advertisers or brands looking to reach consumers outside of their homes. Due to the diverse nature of the advertising industry and Outfront Media's broad client base, specific "major customers" representing a significant concentration of revenue are typically not individually named or disclosed by the company.
Instead, Outfront Media serves a wide array of businesses across various sectors. The categories of companies that frequently utilize Outfront Media's out-of-home advertising platforms include:
- Consumer Goods & Services: This broad category includes companies in industries such as quick-service restaurants, automotive, telecommunications, retail, entertainment (e.g., movies, streaming services), financial services, and healthcare, all aiming to promote their products and services to the general public.
- Local and Regional Businesses: Businesses targeting specific geographic markets for their products and services, ranging from smaller local establishments to regional chains seeking to build brand awareness or drive foot traffic.
- Government and Non-Profit Organizations: These entities often use outdoor advertising for public awareness campaigns, health initiatives, public service announcements, or to promote community events and civic engagement.
AI Analysis | Feedback
nullAI Analysis | Feedback
Nick Brien Chief Executive Officer
Nick Brien was appointed Interim Chief Executive Officer in February 2025 and became permanent CEO effective August 21, 2025. He brings over four decades of global experience in advertising, media, and digital marketing. Mr. Brien has held senior leadership positions at major advertising firms including Publicis, Dentsu, McCann Worldgroup, and IPG Mediabrands. He also has deep experience in ad technology, having served as CEO at Amobee. His career includes CEO roles at Enthusiast Gaming, Dentsu Aegis Network, iCrossing (a Hearst subsidiary), and Universal McCann. Mr. Brien has been a member of Outfront Media's Board of Directors since October 2014.
Matthew Siegel Executive Vice President, Chief Financial Officer
Matthew Siegel was appointed Executive Vice President and Chief Financial Officer of Outfront Media, Inc. effective June 4, 2018. He has extensive finance experience, having held high-level positions at CBS Radio, Time Warner Cable, Time Warner, Insight Communications, and Joseph E. Seagram & Sons, Inc. Mr. Siegel was Executive Vice President and CFO of CBS Radio Inc. from November 2016 to November 2017, prior to its merger with Entercom Communications Corp. He also served as Acting Co-Chief Financial Officer, Senior Vice President, and Treasurer of Time Warner Cable Inc. from 2015 to 2016, and as Senior Vice President and Treasurer from 2008 to 2015. Additionally, he was Vice President and Assistant Treasurer of Time Warner Inc. from 2001 to 2008.
Jodi Senese Executive Vice President, Chief Marketing Officer
Jodi Senese serves as Executive Vice President, Chief Marketing Officer at Outfront Media. She previously held this role at CBS Outdoor.
Richard H. Sauer Executive Vice President, General Counsel
Richard H. Sauer is the Executive Vice President and General Counsel for Outfront Media Inc. He has served in this capacity since July 2015.
Nancy Tostanoski Executive Vice President, Chief Human Resources Officer
Nancy Tostanoski holds the position of Executive Vice President, Chief Human Resources Officer at Outfront Media.
AI Analysis | Feedback
The key risks to Outfront Media's business are:Economic Sensitivity and Competition from Alternative Advertising Mediums
Outfront Media's financial performance is highly susceptible to economic downturns, which can lead to a decrease in overall advertising spending. The out-of-home advertising industry, including billboards and transit displays, often sees reduced budgets during periods of economic uncertainty. Furthermore, the company faces intense competition from alternative advertising mediums, particularly online and mobile platforms. The shift in advertiser budgets towards these digital channels could erode Outfront Media's market share and pricing power, impacting its revenue and profitability.
Dependence on Key Municipal and Transit Contracts
A significant portion of Outfront Media's business, particularly its transit advertising segment, relies on obtaining and renewing contracts with municipalities and other governmental entities. These contracts typically have fixed terms and often involve competitive bidding processes, revenue-sharing agreements, or guaranteed minimum annual payments. The loss or non-renewal of major contracts, such as the previously mentioned MTA contract or other significant agreements in key markets like Los Angeles, can directly impact revenue stability and financial performance.
Substantial Indebtedness
Outfront Media carries significant debt levels, necessitating careful financial management to maintain liquidity and operational flexibility. The company's ability to service this indebtedness is dependent on generating sufficient cash flows, which could be adversely affected by market volatility and economic downturns. Additionally, covenants and restrictions within debt agreements may limit Outfront Media's strategic flexibility, potentially hindering its ability to pursue growth opportunities or respond effectively to competitive pressures. Elevated debt levels have also been noted to slow down capital expenditure spending.
AI Analysis | Feedback
Augmented reality (AR) advertising and spatial computing platforms represent a clear emerging threat. As AR glasses and mobile AR applications become more sophisticated and widely adopted, brands may shift advertising budgets from traditional physical out-of-home assets (billboards, transit ads) to creating interactive, personalized digital advertisements that are overlaid onto real-world environments through AR devices. This would allow advertisers to engage consumers 'on-the-go' through a new, potentially more immersive and targeted medium, directly competing with and potentially diminishing the relevance and effectiveness of Outfront Media's physical and digital out-of-home inventory.
AI Analysis | Feedback
Outfront Media Inc. operates within the expansive Out-of-Home (OOH) advertising market in North America, encompassing traditional and digital billboards, transit advertising, and mobile integrations.
Out-of-Home (OOH) Advertising
- The North American Out-of-Home (OOH) and Digital Out-of-Home (DOOH) advertising market was estimated at approximately USD 11.22 billion in 2025 and is projected to reach USD 14.30 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 4.97% during this period.
- In the United States alone, the OOH advertising market is expected to grow from USD 9.38 billion in 2025 to USD 11.65 billion by 2031, with a CAGR of 3.68% from 2026-2031.
- U.S. OOH advertising revenue surpassed USD 9.1 billion in 2024.
Digital Out-of-Home (DOOH) Advertising
- The North American digital OOH advertising market size was valued at USD 4.94 billion in 2025 and is anticipated to grow to USD 11.22 billion by 2033, at a CAGR of 10.8%.
- The United States digital OOH advertising market reached USD 6.7 billion in 2025 and is expected to reach USD 15.4 billion by 2034, with a CAGR of 9.40% during 2026-2034.
- DOOH accounted for 34% of the total OOH ad spend in the U.S. in 2024, showing a 7.5% increase.
Billboards
- Billboards constitute a significant portion of the OOH market. In 2025, billboards commanded a 45.30% revenue share of the U.S. out-of-home advertising market.
- Globally, the billboard segment held 45.14% of the digital out-of-home advertising market share in 2026.
- The billboard and outdoor advertising market in North America is projected to reach US$ 27,052.7 million by 2033, with a CAGR of 9.9% from 2026 to 2033.
Transit Advertising
- The North American transit advertising market was valued at USD 10 billion in 2024 and is projected to grow to USD 13 billion by 2035.
- In 2024, transit advertising led OOH category growth in the U.S. with a 10.6% increase.
- The global transit & transportation digital out-of-home advertising market size was valued at US$ 3,463.4 million in 2024 and is estimated to grow to US$ 6,799.0 million by 2030, at a CAGR of 11.4%. North America was the largest revenue-generating market in 2024.
Mobile Advertising
- The global mobile advertising market size was valued at USD 262.84 billion in 2025 and is projected to grow to USD 1,266.57 billion by 2034, exhibiting a CAGR of 18.60%. North America held the largest share of the global mobile advertising market in 2025, at 33.20%.
- The U.S. mobile advertising market is projected to reach an estimated value of USD 142.68 billion by 2032.
- The North America in-app advertising market is anticipated to achieve a market value of USD 93,246.8 million by 2032, with the U.S. market dominating this segment in North America.
AI Analysis | Feedback
Outfront Media (OUT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Continued Growth in Transit Advertising: The company has reported strong performance in its transit segment, with a notable acceleration in revenue growth, particularly within the New York MTA. This segment is projected to continue its high-teens growth, indicating sustained demand and expansion in transit advertising.
- Digital Transformation and Expansion of Digital Out-of-Home (DOOH) Assets: Outfront Media plans significant capital expenditures, projected at $90 million for 2026, primarily for digital board conversions and technology infrastructure. Digital revenue already represents a substantial portion of total revenues and is expected to continue growing, with management aiming for a balanced revenue split between static and digital formats.
- Leveraging Programmatic Advertising and Strategic Technology Partnerships: The integration of Digital Out-of-Home (DOOH) into programmatic platforms is identified as a major growth driver, with programmatic and digital direct automated sales showing significant increases. Strategic partnerships with companies like AWS and AdQuick are crucial for modernizing the out-of-home advertising landscape, enhancing operational efficiency, and capturing new market opportunities.
- Major Event-Driven Advertising Opportunities: Outfront Media anticipates revenue boosts from significant events, specifically highlighting optimism for advertising opportunities related to the upcoming World Cup and strategic partnerships with FIFA sponsors and host cities.
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Share Issuance
- On November 26, 2025, Outfront Media converted the remaining 125,000 shares of its Series A Preferred Stock into 7,903,431 shares of common stock.
- Diluted weighted average shares outstanding increased to 177.0 million for the fourth quarter of 2025, up from 171.8 million in the same prior-year period.
- Diluted weighted average shares outstanding were 173.3 million for the fourth quarter of 2023, compared to 172.7 million for the same prior-year period.
Outbound Investments
- On February 25, 2026, Outfront Media announced an exclusive multi-year commercial partnership with AdQuick and a strategic equity investment of up to $20.0 million, tied to agreed milestones. This investment is intended to integrate AdQuick's out-of-home (OOH) sales cloud with Outfront's inventory to unify planning, execution, and measurement across its advertising platforms.
Capital Expenditures
- For 2026, total capital expenditures are projected to be approximately $90 million, with $30 million to $35 million allocated for maintenance capital expenditures. The remaining capital is primarily designated for growth initiatives, including digital conversions and new digital boards.
- In the fourth quarter of 2025, capital expenditures amounted to about $25 million, which included the conversion of 26 new boards to digital, bringing the total digital conversions for 2025 to 103.
- Capital expenditures increased by $16.0 million, or 22%, in 2022 compared to 2021, reaching $89.8 million in 2022 from $73.8 million in 2021. This rise was mainly attributed to the expansion of digital displays, increased maintenance for billboard display and safety upgrades, and office remodel projects. Expected capital expenditures for the full year 2023 were approximately $90.0 million, focused on digital displays, software and technology, office renovations, safety projects, and maintenance.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 22.55 |
| Mkt Cap | 3.4 |
| Rev LTM | 1,757 |
| Op Inc LTM | 330 |
| FCF LTM | 133 |
| FCF 3Y Avg | 98 |
| CFO LTM | 226 |
| CFO 3Y Avg | 191 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.7% |
| Rev Chg 3Y Avg | 3.6% |
| Rev Chg Q | 7.2% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | 22.9% |
| Op Inc Chg 3Y Avg | 8.7% |
| Op Mgn LTM | 18.7% |
| Op Mgn 3Y Avg | 17.7% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 17.7% |
| CFO/Rev 3Y Avg | 17.3% |
| FCF/Rev LTM | 7.2% |
| FCF/Rev 3Y Avg | 3.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.4 |
| P/S | 3.3 |
| P/Op Inc | 9.8 |
| P/EBIT | 10.9 |
| P/E | 7.3 |
| P/CFO | 16.5 |
| Total Yield | 0.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 0.9% |
| D/E | 0.5 |
| Net D/E | 0.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.8% |
| 3M Rtn | 7.8% |
| 6M Rtn | 19.4% |
| 12M Rtn | 67.0% |
| 3Y Rtn | 82.1% |
| 1M Excs Rtn | -1.4% |
| 3M Excs Rtn | -3.9% |
| 6M Excs Rtn | 7.8% |
| 12M Excs Rtn | 37.9% |
| 3Y Excs Rtn | 7.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Billboard | 1,409 | ||||
| Transit | 384 | ||||
| Total | 1,793 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Billboard | 520 | ||||
| Net gain (loss) on dispositions | 161 | ||||
| Transit | 8 | ||||
| Impairment charges | -18 | ||||
| Stock-based compensation | -31 | ||||
| Non-segment Adjusted Operating income (loss) before Depreciation , Amortization (OIBDA) | -64 | ||||
| Amortization | -72 | ||||
| Depreciation | -80 | ||||
| Total | 426 |
Price Behavior
| Market Price | $31.46 | |
| Market Cap ($ Bil) | 5.5 | |
| First Trading Date | 03/28/2014 | |
| Distance from 52W High | -7.2% | |
| 50 Days | 200 Days | |
| DMA Price | $30.24 | $23.96 |
| DMA Trend | up | up |
| Distance from DMA | 4.0% | 31.3% |
| 3M | 1YR | |
| Volatility | 29.4% | 32.4% |
| Downside Capture | 116.94 | 54.68 |
| Upside Capture | 105.73 | 121.44 |
| Correlation (SPY) | 57.2% | 32.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.79 | 1.19 | 1.18 | 0.91 | 0.89 | 1.35 |
| Up Beta | 2.76 | 1.05 | 1.11 | 1.19 | 0.83 | 1.43 |
| Down Beta | 2.46 | 1.93 | 1.22 | 1.18 | 0.87 | 1.26 |
| Up Capture | 114% | 128% | 123% | 104% | 139% | 310% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 12 | 26 | 35 | 68 | 137 | 389 |
| Down Capture | 162% | 107% | 116% | 36% | 62% | 107% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 15 | 28 | 56 | 112 | 356 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OUT | |
|---|---|---|---|---|
| OUT | 102.4% | 32.3% | 2.20 | - |
| Sector ETF (XLRE) | 7.9% | 13.4% | 0.32 | 40.5% |
| Equity (SPY) | 30.5% | 11.8% | 1.95 | 32.5% |
| Gold (GLD) | 35.9% | 26.7% | 1.12 | 6.9% |
| Commodities (DBC) | 44.5% | 18.9% | 1.81 | -17.0% |
| Real Estate (VNQ) | 10.1% | 13.2% | 0.47 | 47.1% |
| Bitcoin (BTCUSD) | -32.2% | 41.6% | -0.82 | 15.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OUT | |
|---|---|---|---|---|
| OUT | 12.5% | 39.2% | 0.40 | - |
| Sector ETF (XLRE) | 3.6% | 19.1% | 0.09 | 57.0% |
| Equity (SPY) | 14.2% | 17.0% | 0.66 | 58.8% |
| Gold (GLD) | 18.3% | 18.0% | 0.83 | 10.1% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 14.7% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.06 | 61.7% |
| Bitcoin (BTCUSD) | 13.0% | 54.6% | 0.43 | 22.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OUT | |
|---|---|---|---|---|
| OUT | 9.8% | 45.1% | 0.37 | - |
| Sector ETF (XLRE) | 6.9% | 20.4% | 0.29 | 61.1% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 60.1% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | 6.8% |
| Commodities (DBC) | 7.5% | 17.9% | 0.34 | 23.3% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 66.0% |
| Bitcoin (BTCUSD) | 66.0% | 66.9% | 1.05 | 17.9% |
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Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 3.3% | -0.1% | |
| 2/25/2026 | 6.2% | 7.7% | 0.6% |
| 11/6/2025 | 14.4% | 23.2% | 34.8% |
| 8/5/2025 | -3.4% | -4.9% | 1.8% |
| 5/8/2025 | -2.5% | 6.4% | 8.9% |
| 2/25/2025 | 0.6% | -2.8% | -8.1% |
| 11/12/2024 | 1.6% | 5.7% | 8.3% |
| 8/6/2024 | 6.3% | 10.7% | 19.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 15 | 14 |
| # Negative | 11 | 9 | 9 |
| Median Positive | 6.2% | 6.2% | 11.2% |
| Median Negative | -4.5% | -5.4% | -8.1% |
| Max Positive | 18.5% | 23.2% | 39.4% |
| Max Negative | -16.3% | -18.9% | -19.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Dividends | 0.3 | 0.0% | Same New | Actual: 0.3 for Q1 2026 | |||
Insider Activity
Updated 5/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mathes, Peter | Direct | Sell | 5262026 | 33.54 | 10,000 | 335,400 | 1,388,489 | Form | |
| 2 | Siegel, Matthew | EVP, CFO | Direct | Sell | 4022026 | 25.79 | 50,000 | 1,289,500 | 7,477,166 | Form |
| 3 | Diaz, Manuel A | Direct | Sell | 3232026 | 26.93 | 11,271 | 303,528 | 976,051 | Form | |
| 4 | Diaz, Manuel A | Direct | Sell | 1212026 | 24.49 | 11,271 | 276,027 | 1,163,642 | Form | |
| 5 | Mathes, Peter | Direct | Sell | 11252025 | 22.88 | 20,000 | 457,600 | 1,175,986 | Form |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Other Specialized REITs Resources |
| Nareit - Specialty |
| Green Street |
| REITNotes |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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