Lasalle Investment Management Securities LLC Has $84.50 Million Holdings in OUTFRONT Media Inc. $OUT

Key Points

• Lasalle Investment Management Securities LLC cut its stake in OUTFRONT Media by 5.2% in the fourth quarter, but still held 3.51 million shares worth about $84.5 million and represented 2.10% of its portfolio.
• Analyst sentiment remains constructive overall, with six Buy ratings and one Hold; the stock’s consensus view is “Moderate Buy” with a consensus target price of $30.71, though some firms recently raised targets to as high as $38.
• OUTFRONT Media reported better-than-expected quarterly earnings of $0.34 EPS versus $0.28 expected, and it also announced a quarterly dividend of $0.30 per share, yielding about 3.7% annually.

Lasalle Investment Management Securities LLC decreased its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,506,182 shares of the financial services provider's stock after selling 193,097 shares during the quarter. OUTFRONT Media makes up about 3.4% of Lasalle Investment Management Securities LLC's investment portfolio, making the stock its 13th largest position. Lasalle Investment Management Securities LLC owned 2.10% of OUTFRONT Media worth $84,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of OUT. Advisory Services Network LLC bought a new stake in shares of OUTFRONT Media during the third quarter worth $29,000. Farther Finance Advisors LLC increased its holdings in OUTFRONT Media by 157.6% in the fourth 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 increased its holdings in OUTFRONT Media by 16.5% in the third 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. Harbor Capital Advisors Inc. raised its position in shares of OUTFRONT Media by 224.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 7,853 shares of the financial services provider's stock worth $189,000 after purchasing an additional 5,432 shares during the period. Finally, Rossby Financial LCC raised its position in shares of OUTFRONT Media by 14.2% during the third quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider's stock worth $144,000 after purchasing an additional 989 shares during the period.

Analyst Ratings Changes

OUT has been the subject of several recent research reports. Wall Street Zen raised OUTFRONT Media from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Wells Fargo & Company raised 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. Zacks Research cut OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. TD Cowen reiterated a "buy" rating and set a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Finally, Barrington Research set a $38.00 target price on OUTFRONT Media in a research note on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, OUTFRONT Media presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Insiders Place Their Bets

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the firm's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $26.93, for a total value of $303,528.03. Following the sale, the director owned 36,244 shares of the company's stock, valued at approximately $976,050.92. This trade represents a 23.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew Siegel sold 50,000 shares of the firm's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total value of $1,289,500.00. Following the completion of the sale, the executive vice president directly owned 289,925 shares in the company, valued at approximately $7,477,165.75. This represents a 14.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.47% of the company's stock.

OUTFRONT Media Price Performance

OUTFRONT Media stock opened at $32.22 on Monday. The stock's fifty day moving average price is $29.99 and its two-hundred day moving average price is $26.64. OUTFRONT Media Inc. has a one year low of $15.45 and a one year high of $34.96. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $5.67 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.53 and a beta of 1.49.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The firm had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. During the same quarter last year, the company earned $0.14 EPS. The company's revenue was up 10.0% on a year-over-year basis. As a group, research analysts expect that OUTFRONT Media Inc. will post 2.11 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, June 5th. OUTFRONT Media's dividend payout ratio (DPR) is currently 114.29%.

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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