Cohen & Steers Inc. Has $537.78 Million Stake in OUTFRONT Media Inc. $OUT

Key Points

• Cohen & Steers Inc. increased its stake in OUTFRONT Media by 2.2% in the fourth quarter, bringing its holdings to 22.3 million shares valued at about $537.8 million.
• OUTFRONT Media reported better-than-expected Q1 earnings, posting $0.34 per share versus the $0.28 analyst estimate, while revenue rose 10% year over year to $429.6 million.
• The company announced a quarterly dividend of $0.30 per share, equal to an annualized yield of 3.8%, though the payout ratio is high at 114.29%.

Cohen & Steers Inc. boosted its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,314,228 shares of the financial services provider's stock after buying an additional 486,192 shares during the quarter. Cohen & Steers Inc. owned approximately 13.34% of OUTFRONT Media worth $537,779,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in OUTFRONT Media in the 3rd quarter valued at $29,000. Farther Finance Advisors LLC raised its position in OUTFRONT Media by 157.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 1,431 shares during the last quarter. IFP Advisors Inc raised its position in OUTFRONT Media by 16.5% in the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 582 shares during the last quarter. State of Wyoming raised its position in OUTFRONT Media by 155.5% in the 2nd quarter. State of Wyoming now owns 7,973 shares of the financial services provider's stock valued at $130,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Rossby Financial LCC raised its position in OUTFRONT Media by 14.2% in the 3rd quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider's stock valued at $144,000 after purchasing an additional 989 shares during the last quarter.

OUTFRONT Media Trading Up 2.4%

OUT stock opened at $31.34 on Friday. The company has a market cap of $5.52 billion, a P/E ratio of 29.84, a PEG ratio of 1.45 and a beta of 1.49. OUTFRONT Media Inc. has a twelve month low of $15.45 and a twelve month high of $34.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90. The business has a fifty day moving average of $30.88 and a 200-day moving average of $27.25.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. The company had revenue of $429.60 million during the quarter, compared to the consensus estimate of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, equities research analysts expect that OUTFRONT Media Inc. will post 2.12 EPS for the current year.

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. OUTFRONT Media's payout ratio is presently 114.29%.

Insider Transactions at OUTFRONT Media

In related news, EVP Matthew Siegel sold 50,000 shares of OUTFRONT Media stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the completion of the sale, the executive vice president directly owned 289,925 shares of the company's stock, valued at $7,477,165.75. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Michael Norton acquired 4,130 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $30.81 per share, with a total value of $127,245.30. Following the completion of the purchase, the executive vice president owned 4,130 shares of the company's stock, valued at $127,245.30. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. TD Cowen reiterated a "buy" rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Wells Fargo & Company lifted their price objective on OUTFRONT Media from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. Wall Street Zen upgraded OUTFRONT Media from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 30th. Zacks Research downgraded OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Finally, Barrington Research set a $38.00 price objective on OUTFRONT Media in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, OUTFRONT Media presently has a consensus rating of "Moderate Buy" and an average price target of $30.71.

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.

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