Lasalle Investment Management Securities LLC Sells 373,155 Shares of OUTFRONT Media Inc. $OUT

Key Points

• Lasalle Investment Management Securities reduced its OUTFRONT Media stake by 10.6% in the first quarter, selling 373,155 shares and ending with 3.13 million shares valued at about $83.0 million.
• Insider trading was mixed: EVP James Michael Norton bought 4,130 shares, while EVP Richard H. Sauer sold 5,000 shares; insiders now own just 0.45% of the company.
• OUTFRONT Media reported solid earnings and income support, beating EPS estimates with $0.34 per share and posting 10% revenue growth year over year, while also paying a quarterly dividend of $0.30 per share for a 3.8% annualized yield.

Lasalle Investment Management Securities LLC cut its position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,133,027 shares of the financial services provider's stock after selling 373,155 shares during the period. OUTFRONT Media comprises about 3.3% of Lasalle Investment Management Securities LLC's portfolio, making the stock its 11th largest position. Lasalle Investment Management Securities LLC owned approximately 1.78% of OUTFRONT Media worth $83,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in OUTFRONT Media by 5.5% during the 4th quarter. CWM LLC now owns 8,682 shares of the financial services provider's stock worth $209,000 after buying an additional 453 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of OUTFRONT Media by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,383 shares of the financial services provider's stock valued at $515,000 after purchasing an additional 468 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of OUTFRONT Media by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,256 shares of the financial services provider's stock valued at $801,000 after purchasing an additional 500 shares during the period. Convergence Investment Partners LLC increased its stake in OUTFRONT Media by 0.7% during the 1st quarter. Convergence Investment Partners LLC now owns 78,004 shares of the financial services provider's stock worth $2,067,000 after purchasing an additional 537 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in OUTFRONT Media by 16.5% during the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider's stock worth $78,000 after purchasing an additional 582 shares in the last quarter.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, EVP James Michael Norton acquired 4,130 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $30.81 per share, with a total value of $127,245.30. Following the completion of the transaction, the executive vice president directly owned 4,130 shares in the company, valued at approximately $127,245.30. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total value of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares of the company's stock, valued at $1,826,859.76. This represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,000 shares of company stock valued at $629,600 in the last quarter. 0.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barrington Research set a $38.00 price target on shares of OUTFRONT Media in a report on Tuesday, May 12th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $38.00 target price on shares of OUTFRONT Media in a research note on Wednesday. TD Cowen reissued a "buy" rating and issued a $38.00 price target (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Wall Street Zen raised OUTFRONT Media from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Finally, Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.57.

OUTFRONT Media Stock Performance

NYSE OUT opened at $31.88 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. The firm's fifty day moving average price is $32.24 and its two-hundred day moving average price is $29.01. OUTFRONT Media Inc. has a 1 year low of $16.64 and a 1 year high of $34.96. The firm has a market capitalization of $5.61 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, beating 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 net margin of 9.98% and a return on equity of 30.36%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 2.12 EPS for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. OUTFRONT Media's dividend payout ratio (DPR) is presently 114.29%.

OUTFRONT Media Profile

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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