Invesco Ltd. Grows Stock Position in OUTFRONT Media Inc. $OUT

Key Points

• Invesco Ltd. has increased its stake in OUTFRONT Media by 7.6%, acquiring an additional 555,568 shares, bringing its total ownership to approximately 7.8 million shares valued at $126.5 million.
• OUTFRONT Media reported a quarterly EPS of $0.51, surpassing the consensus estimate of $0.48, despite experiencing a year-over-year revenue decline of 3.6%.
• The company has announced a quarterly dividend of $0.30 per share, which results in an annualized yield of 6.4%, with an exceptionally high dividend payout ratio of 206.90%.

Invesco Ltd. increased its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,836,183 shares of the financial services provider's stock after purchasing an additional 555,568 shares during the quarter. Invesco Ltd. owned 4.69% of OUTFRONT Media worth $126,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OUT. Sterling Capital Management LLC grew its stake in OUTFRONT Media by 672.5% during 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 in the last quarter. Rossby Financial LCC acquired a new position in OUTFRONT Media during the 1st quarter worth $74,000. Lazard Asset Management LLC acquired a new position in OUTFRONT Media during the 4th quarter worth $113,000. IFP Advisors Inc grew its stake in OUTFRONT Media by 97.6% during the 1st quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider's stock worth $113,000 after purchasing an additional 3,313 shares in the last quarter. Finally, Signaturefd LLC grew its stake in OUTFRONT Media by 8.5% during the 1st quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider's stock worth $149,000 after purchasing an additional 722 shares in the last quarter.

Insider Activity

In other OUTFRONT Media news, EVP Richard H. Sauer sold 20,109 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.88, for a total transaction of $319,330.92. Following the completion of the sale, the executive vice president directly owned 70,836 shares of the company's stock, valued at approximately $1,124,875.68. This trade represents a 22.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

OUTFRONT Media Stock Performance

Shares of NYSE OUT traded up $0.14 during trading hours on Tuesday, reaching $18.91. The stock had a trading volume of 230,233 shares, compared to its average volume of 1,582,428. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 1.11 and a beta of 1.89. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $19.50. The firm has a 50-day moving average of $17.19 and a 200-day moving average of $16.70.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $460.20 million during the quarter, compared to analysts' expectations of $463.16 million. OUTFRONT Media had a return on equity of 18.07% and a net margin of 5.99%.The business's revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. Equities research analysts predict that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.3%. OUTFRONT Media's dividend payout ratio is 206.90%.

Wall Street Analyst Weigh In

Several research analysts recently commented on OUT shares. JPMorgan Chase & Co. lowered their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Barrington Research reissued an "outperform" rating and set a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, August 6th. Citigroup reaffirmed a "buy" rating and set a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Wall Street Zen raised OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Morgan Stanley lifted their price target on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, OUTFRONT Media has an average rating of "Moderate Buy" and a consensus price target of $19.00.

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.