Shares of billboard real estate investment trusts Lamar Advertising and Outfront Media have surged more than 24% and 37% respectively so far in 2026, while both still offer dividend yields above 3.5%. Lamar pays a quarterly dividend of $1.60 per share, yielding around 4.03%, and Outfront Media's quarterly dividend of $0.30 per share yields about 3.6%. Both companies benefit from a resilient local customer base, with roughly 80% of Lamar's tenants and 60% of Outfront's clients being local businesses. In the first quarter, Lamar reported revenue of $528 million, up 4.5% year over year, and adjusted funds from operations per share of $1.72, up 7.5%, while Outfront posted revenue of $429.6 million, up 9.9%, and AFFO per share of $0.34, up 143%. The companies are also poised to gain from projected political ad spending exceeding $11 billion for the 2026 U.S. midterm elections.
Lamar Advertising CompanyResilient local customer base and projected political ad spending boost revenue outlook.
Outfront Media IncResilient local customer base and projected political ad spending boost revenue outlook.