Strs Ohio Trims Stock Position in OUTFRONT Media Inc. $OUT

Strs Ohio trimmed its position in OUTFRONT Media Inc. (NYSE:OUT) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,129 shares of the financial services provider’s stock after selling 62,400 shares during the quarter. Strs Ohio’s holdings in OUTFRONT Media were worth $7,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in OUT. Pacific Heights Asset Management LLC raised its position in shares of OUTFRONT Media by 40.0% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 700,000 shares of the financial services provider’s stock valued at $12,824,000 after buying an additional 200,000 shares during the period. Amalgamated Bank raised its position in OUTFRONT Media by 4.5% in the third quarter. Amalgamated Bank now owns 41,685 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 1,802 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of OUTFRONT Media by 14.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 31,380 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 3,884 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of OUTFRONT Media by 41.9% during the 3rd quarter. Nordea Investment Management AB now owns 474,055 shares of the financial services provider’s stock worth $8,670,000 after purchasing an additional 140,060 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of OUTFRONT Media by 14.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,905 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 4,090 shares during the last quarter.

Analyst Upgrades and Downgrades

OUT has been the topic of several research analyst reports. Citigroup restated a “buy” rating and issued a $23.00 price objective (up from $20.00) on shares of OUTFRONT Media in a report on Wednesday, November 12th. JPMorgan Chase & Co. upgraded shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $25.00 in a report on Wednesday, November 12th. New Street Research set a $24.00 target price on shares of OUTFRONT Media in a report on Tuesday, November 11th. Wall Street Zen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Morgan Stanley upgraded OUTFRONT Media from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $20.00 to $28.00 in a research report on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.57.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $24.49, for a total value of $276,026.79. Following the sale, the director owned 47,515 shares of the company’s stock, valued at $1,163,642.35. This trade represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Price Performance

Shares of OUT opened at $24.42 on Tuesday. The company has a market cap of $4.08 billion, a P/E ratio of 35.91, a PEG ratio of 1.23 and a beta of 1.57. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $25.51. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. The firm’s 50 day moving average price is $23.84 and its 200 day moving average price is $20.29.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.21). OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.The business had revenue of $467.50 million during the quarter, compared to analyst estimates of $458.32 million. During the same quarter last year, the firm earned $0.19 EPS. The business’s revenue was up 3.5% on a year-over-year basis. On average, research analysts forecast that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, December 5th. This represents a $1.20 annualized dividend and a yield of 4.9%. OUTFRONT Media’s dividend payout ratio is 176.47%.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.