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48	member 11/16/13 7:59PM RE: LAMR REIT 44
can you show how you are getting to your affo targets and the split in ebitda between opco and propco? your affo number looks like you are allocating all the "ebitda" to propco, no? what type... login to read the rest view available tags
43	member 6/07/13 6:46AM RE: RE: RE: growth 42
any thought on the IRM 8K that came out yest evening and the implications for Reit conversions for LAMR and the space in general? view available tags
42	member 6/06/13 11:10PM RE: RE: growth 40
Description Ticker Field ID Field Mnemonic Data State 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 Global Heading Global GDP ($B) WGDPWRLD Index PR005 PX_LAST Dynamic $ 70,020.43 $ 63,226.38 $ 57,941.67 $ 61,243.56 $ 55,830.84 $ 49,513.76 $ 45,712.15 $ 42,281.11 $ 37,576.77 $ 33,393.25 $ 32,144.07 $ 32,334.43 Global Ad Spend ($B) GLARGLAR Index Average $ 494.60 $ 479.29 $ 458.67 $ 439.97 $ 415.90 $ ... login to read the rest view available tags
41	member 6/06/13 4:20AM RE: RE: RE: RE: Author Exit Recommendation 37
Sure... JCDecaux is mainly in airports and metros in China. The only reason they are not in street furniture is because Clear Media beat them to it. Clear Media's EBITDA margins are in line with JCDecaux's... login to read the rest view available tags
37	member 6/05/13 4:12PM RE: RE: RE: Author Exit Recommendation 36
You turned bullish after a near double? I like the REIT development, it fits the story and if you can pull bypassing the taxman, why not? But these are the same assets you thought deserved... login to read the rest view available tags
30	member 2/03/13 5:31PM Still cheap
Sell side is still mis-modeling various aspects and vastly underestimating potential. The tax savings alone could be worth $2B on a ~$4B mkt cap. Paying down 9.75% notes will save $34 MM in interest savings,... login to read the rest view available tags
29	member 1/04/13 10:23AM RE: RE: RE: RE: RE: LAMR REIT Conversion 28
No way! But do enjoy the debate here. 1) I hilighted CFO-Capex as a quick proxy for cash flow. While not the same number year in year out, I think most people would look at the... login to read the rest view available tags
27	member 1/03/13 4:13PM RE: RE: RE: LAMR REIT Conversion 26
Why do you think it would make for a poor REIT? Despite it being bucketed as a cyclical business due to its ad exposure (which it certainly is), if you look at CFO less Capex over... login to read the rest view available tags
25	member 8/08/12 8:53AM RE: LAMR REIT Conversion 24
REIT Election Lamar is currently considering an election to real estate investment trust (REIT) status. In conjunction with our review regarding a potential REIT election, we intend to seek a private letter ruling from the Internal... login to read the rest view available tags
23	member 11/05/11 5:01PM RE: RE: RE: Growth story back on 22
thrive25 - I agree that the digital opportunity is exciting not just b/c of the higher CPMs, but becasue digital also grows LAMR's addressable market. BJG - re: Abrams, I think it's worth noting that David... login to read the rest view available tags
22	member 11/03/11 2:02PM RE: RE: Growth story back on 21
The Q was great relative to the extreme negative sentiment overwhelming the stock. This is a mature medium so comparing it to trends in the broader advertising is, IMO, misleading. On the digital front, yes you... login to read the rest view available tags
20	member 11/03/11 11:39AM Growth story back on
Great Q and loved management's tone and outlook. Seems digital is going gangbusters. view available tags
18	member 8/09/11 12:08PM RE: RE: Earnings, overreaction? 17
Just to prove that I don't have an axe grind here (neither long nor short), should probably point out that TV network upfront sales are supposedly going gangbusters, so there's clearly still good demand for... login to read the rest view available tags
17	member 8/09/11 10:50AM RE: RE: RE: RE: RE: RE: Earnings, overreaction? 16
"Thrive is right that billboards aren't going away, but at a minimum it appears likely that they'll face pricing pressure for years to come as increasing amounts of the advertising pie gravitate towards other media." ZZZ,... login to read the rest view available tags
16	member 8/08/11 7:19AM RE: RE: RE: RE: RE: RE: Earnings, overreaction? 15
To cross' point, take a look at what is going on at Yahoo. Display advertising is suffering pretty heavily at the hands of targeted advertising. The deterioration is so rapid that they've had to reduce... login to read the rest view available tags
14	member 8/05/11 3:41PM RE: RE: RE: RE: Earnings, overreaction? 13
Agree to disagree. I guess that is why it is called a market, huh... 12x IMO is warranted and is value for an asset that has such visible, recurring cash flows. With the current market weakness you... login to read the rest view available tags
13	member 8/05/11 8:25AM RE: RE: RE: Earnings, overreaction? 12
This club is called the Value Investors Club - how does 12x for a no-growth asset be considered a 'value' - its not, and they won't trade there. Billboards are fragmented around the world, including... login to read the rest view available tags
12	member 8/05/11 12:08AM RE: RE: Earnings, overreaction? 11
Granted, there is evident cyclical weakness in the local ad market and the risk of potential share competition from emerging mediums, but this is still a long-term secular growth story. Their debt has restricted them... login to read the rest view available tags
11	member 8/04/11 12:44PM RE: Earnings, overreaction? 10
All I am saying is why should LAMR trading at high multiple when it has no growth? At 8x - this is a $18/sh stock. view available tags
10	member 8/04/11 10:12AM Earnings, overreaction?
Top line guidance is below consensus and it seems the soft patch in local advertising is continuing. down 10% to $22 levels seems like a severe overeaction to me. Stock looks like a no-brainer buy for view available tags
9	member 6/16/11 12:36PM RE: thrive25: NCMI? 8
The short answer is both. While the market is anticipating healthy top-line growth, we believe it is underestimating the boost it will get from higher CPM's - which will rise due to strengthening network effects,... login to read the rest view available tags

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			2009	2010
Price:	19.40	EPS	$2.73	$3.22
Shares Out. (in M):	42	P/E	7.1x	6.0x
Market Cap (in $M):	820	P/FCF	7.1x	6.0x
Net Debt (in $M):	-64	EBIT	185	216
TEV (in $M):	756	TEV/EBIT	4.0x	3.5x

Description

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