Outfront Media Inc. OUT reported second-quarter 2017 adjusted funds from operations (“FFO”) per share of 56 cents, beating the Zacks Consensus Estimate by a penny. The figure, however, came in lower than the year-ago quarter tally of 63 cents.Results reflected an increase in income taxes and maintenance capital expenditures.Revenues for the quarter came in at $396.2 million, comfortably surpassing the Zacks Consensus Estimate of $388.38 million. Further, revenues rose 2.8% from the year-ago tally of $385.3 million.OUTFRONT Media Inc. Price, Consensus and EPS Surprise OUTFRONT Media Inc. Price, Consensus and EPS Surprise | OUTFRONT Media Inc. QuoteNote: The EPS numbers presented in the above chart represent funds from operations (“FFO”) per share.Quarter in DetailBillboard revenues of $274.2 million in the quarter indicated a marginal increase of 0.2% year over year. Results reflect increased proceeds from condemnations and the conversion of static billboards to digital. However, the positives were partly offset by the effect of lost and new billboards in the quarter. The reduction in national advertising in the U.S. caused a small decline in average revenue per display.Transit and other revenues of $122 million also increased 9.2% from the prior-year quarter. This was due to the net effect of won and lost franchises partly offset by a reduction in revenues from the U.S. national advertisements.Operating expenses of $213.3 million increased 5.8% year over year, mainly due to elevated transit franchise.Operating income during the reported quarter was $65 million, up 10.2% from the year-earlier quarter. Adjusted operating income before depreciation and amortization declined 0.8% year over year to $122 million.Net cash flow resulting from operating activities for the six-month period ending Jun 30, 2017, came in at $79.1 million, significantly down from $104.7 million recorded in the comparable period last year.As of Jun 30, 2017, Outfront Media’s liquidity position comprised cash of $23.1 million, as well as $343.5 million of availability under its $430.0 million revolving credit facility, net of $1.5 million of issued letters of credit against the revolving credit facility. Our TakeOutfront Media’s diversity, both geographical and industry wise, efforts to convert from traditional static billboard displays to digital billboard displays and low cost of advertisement across the OOH platform bode well for growth. Moreover, the company operates in an industry characterized by high barriers to entry due to permitting restrictions. In fact, permits are the most prized assets of the company. As a result, Outfront Media has solid chances of growth by capitalizing on industry fundamentals.However, a challenging national advertising market, cut-throat competition and any rise in interest rates remain concerns.Currently, Outfront Media carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In addition, the stock has declined 11.7% year to date, underperforming the 4.1% gain of the industry it belongs to. Q2 Earnings Schedule of Other REITsWe now look forward to the earnings releases of other companies in the REITs sector like Care Capital Properties, Inc. CCP, Condor Hospitality Trust Inc. CDOR and Community Healthcare Trust Inc. CHCT, all of which are slated to report Q2 numbers in the coming week.Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.Today's Stocks from Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively. And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report OUTFRONT Media Inc. (OUT): Free Stock Analysis Report Condor Hospitality Trust, Inc. (CDOR): Free Stock Analysis Report Community Healthcare Trust Incorporated (CHCT): Free Stock Analysis Report Care Capital Properties, Inc. (CCP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research