OUT - Outfront Media Inc.
Price:
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$37.50
DETAILS
HIGH:
$38.00
LOW:
$37.00
MEDIAN:
$37.50
CONSENSUS:
$37.50
UPSIDE:
20.85%
AlphaVal
Deterministic, archetype-aware fair value
Real Estate Investment Trust
85% confidence
Primary model: P/FFO × Specialty REIT Multiple
Adjust Assumptions
27.2x
$
Key Value Driver
FFO/share ($1.74) × specialty P/FFO multiple
Implied Market Multiple
17.8x
Plain-Language Summary
At $1.74 FFO/share with a 27x specialty REIT multiple, the base-case value is $43.45 per share. Dividend yield: 4.0%. DDM cross-check: $33.98.
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.
Average Target (13 analysts)
$37.50
Analyst Range
$37.00 – $38.00
Divergence from AlphaVal
16%
Warnings
Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
Key Risks
- P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
- Interest rate sensitivity: REIT multiples compress when rates rise
- FFO approximation (NI + D&A) may include gains on property sales — verify