shares of outfront media fell 11 after the advertisingfocused realestate investment trust reported soft sales growth and cited weakness due to labor strikes and a stalling transit recovery in new york city the stock dropped to 1288 in premarket trading through thursdays trading the stock was down more than 12 compared with a 17 gain for the sp 500 the new yorkbased company on thursday evening reported secondquarter sales of 4688 million up 4 from a year earlier but below the 4727 million that analysts surveyed by factset expected funds from operations were a deficit of 598 million compared with a gain of 924 million a year earlier the deficit was due to a 5114 million impairment charge that the company booked due to what it said was the stalling recovery of transitbased advertising primarily in new york city we are seeing some impact from the ongoing strikes within the media industry in the second half particularly in our transit business chief executive jeremy male said write to will feuer at willfeuerwsjcom