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Stock Market & Financial Investment News

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December 9, 2013
11:32 EDTCCOClear Channel Outdoor may be considering converting to REIT, says Wells Fargo
After Clear Channel Communications CFO Richard Bressler was asked at an investor conference to evaluate the pluses and minuses of a REIT structure, Wells Fargo thinks his response suggests that Clear Channel Outdoor may be currently considering converting to a REIT. The firm doesn't expect the conversion to happen in the near-term, but believes the company is looking at how other REIT candidates' conversion processes go. The firm keeps a Market Perform rating on Clear Channel Outdoor.
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