Bank of America Corp DE Acquires 76,306 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Bank of America Corp DE increased its holdings in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 28.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,544 shares of the financial services provider's stock after acquiring an additional 76,306 shares during the period. Bank of America Corp DE owned about 0.21% of OUTFRONT Media worth $6,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OUT. FMR LLC lifted its position in shares of OUTFRONT Media by 132.5% during the 4th quarter. FMR LLC now owns 15,604,202 shares of the financial services provider's stock worth $276,819,000 after buying an additional 8,892,411 shares in the last quarter. Cohen & Steers Inc. increased its stake in shares of OUTFRONT Media by 87.8% during the 4th quarter. Cohen & Steers Inc. now owns 5,243,211 shares of the financial services provider's stock worth $93,015,000 after purchasing an additional 2,450,632 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of OUTFRONT Media by 9.1% during the 4th quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider's stock worth $73,005,000 after purchasing an additional 342,413 shares during the last quarter. Lasalle Investment Management Securities LLC increased its stake in shares of OUTFRONT Media by 2.1% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,146,553 shares of the financial services provider's stock worth $55,820,000 after purchasing an additional 64,072 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of OUTFRONT Media by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,054,331 shares of the financial services provider's stock worth $54,184,000 after purchasing an additional 15,455 shares during the last quarter.

OUTFRONT Media Stock Performance

OUTFRONT Media stock traded up $0.28 during mid-day trading on Thursday, reaching $16.57. The company's stock had a trading volume of 1,329,783 shares, compared to its average volume of 1,676,529. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.98. The company has a market capitalization of $2.77 billion, a P/E ratio of 11.81, a PEG ratio of 1.06 and a beta of 1.84. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. The firm's fifty day moving average price is $15.38 and its two-hundred day moving average price is $17.38.

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

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, June 6th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.24%. The ex-dividend date of this dividend is Friday, June 6th. OUTFRONT Media's payout ratio is 78.95%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Morgan Stanley decreased their price target on shares of 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. Citigroup restated a "buy" rating and set a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, Barrington Research restated an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $18.23.

OUTFRONT Media Profile

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.