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What: Shares of billboard giant Lamar Advertising
So what: There wasn't much that was too surprising about the numbers in Lamar's second quarter. The company's revenue, which was up 4% from last year, did edge out analysts' expectations, but earnings per share of $0.15 were right in line with estimates. That $0.15 tally was up 25% from $0.12 last year.
On the downside, Lamar's third-quarter revenue forecast was a range between $303 million and $306 million. The Wall Street consensus was $307 million.
Now what: What likely has investors bidding up shares, however, was Lamar's disclosure that it's considering electing to be treated as a real-estate investment trust, or REIT. The move -- if approved by the U.S. Internal Revenue Service -- could have favorable tax consequences for the company. For investors, it could mean more cash coming their way, as REITs are required to pay out 90% of their profit.
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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.