REIT fever in outdoor advertising sector

|By:, SA News Editor

A favorable IRS private letter ruling for CBS Outdoor (CBSO +6.1%) is giving the outdoor advertising sector an afternoon lift. The IRS set the table for CBS Outdoor to convert itself to a REIT.

Advancers: Clear Channel Outdoor (CCO) +3.1%, AirMedia Group (AMCN) +3.0%, Lamar Advertising (LAMR) +5.6%.