Lamar Advertising considering election to REIT status

Lamar announced earlier that it is currently considering an election to real estate investment trust, or REIT, status. The company said it intends to seek a private letter ruling from the Internal Revenue Service. Lamar stated, "If we proceed with a REIT election, we would likely make the election for the taxable year beginning January 1, 2014 during 2013, subject to the approval of our board of directors. There is no certainty as to the timing of a REIT election or whether we will ultimately decide to make a REIT election."