Ameriprise Financial Inc. Reduces Stock Position in OUTFRONT Media Inc. (NYSE:OUT)

Ameriprise Financial Inc. trimmed its position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 43.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,071,921 shares of the financial services provider's stock after selling 832,132 shares during the period. Ameriprise Financial Inc. owned 0.66% of OUTFRONT Media worth $19,015,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P acquired a new position in OUTFRONT Media during the 4th quarter worth about $47,000. Sterling Capital Management LLC lifted its position in shares of OUTFRONT Media by 672.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock worth $51,000 after purchasing an additional 2,522 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of OUTFRONT Media by 155.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,198 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 2,555 shares during the last quarter. KBC Group NV increased its position in shares of OUTFRONT Media by 47.9% during the fourth quarter. KBC Group NV now owns 6,198 shares of the financial services provider's stock worth $110,000 after buying an additional 2,006 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in OUTFRONT Media during the fourth quarter worth $192,000.

Analyst Upgrades and Downgrades

OUT has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Barrington Research reiterated an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Wednesday, April 23rd. Morgan Stanley lowered their price objective on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, StockNews.com cut OUTFRONT Media from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.97.

OUTFRONT Media Stock Performance

NYSE:OUT traded down $0.13 during trading on Monday, reaching $16.36. The company's stock had a trading volume of 992,003 shares, compared to its average volume of 1,678,389. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.98. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.84. The firm has a 50 day moving average of $15.42 and a 200-day moving average of $17.50. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company had revenue of $390.70 million for the quarter, compared to the consensus estimate of $396.17 million. Research analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.20 annualized dividend and a dividend yield of 7.33%. OUTFRONT Media's payout ratio is 78.95%.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.