Pensionfund PDN Takes Position in OUTFRONT Media Inc. $OUT

Key Points

• Pensionfund PDN bought a new stake of 42,617 shares in OUTFRONT Media in Q4, valued at about $1.03 million, indicating fresh institutional interest.
• Multiple brokers have raised ratings and price targets (TD Cowen to $32, Barrington to $33, Morgan Stanley to overweight at $28, Wells Fargo to $30), leaving a consensus rating of “Moderate Buy” and a $27.86 consensus price target.
• OUTFRONT missed quarterly EPS ($0.55 vs. $0.71) but declared a $0.30 quarterly dividend (annualized yield ~4.4%) despite a high payout ratio of 150%; Director Manuel A. Diaz sold 11,271 shares, reducing his holding by 23.7%.

Pensionfund PDN bought a new stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,617 shares of the financial services provider's stock, valued at approximately $1,027,000.

Other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in OUTFRONT Media in the third quarter valued at $29,000. Private Trust Co. NA bought a new position in shares of OUTFRONT Media in the 3rd quarter valued at about $33,000. IFP Advisors Inc increased its stake in shares of 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 during the last quarter. State of Wyoming increased its stake in shares of OUTFRONT Media by 155.5% during the 2nd quarter. State of Wyoming now owns 7,973 shares of the financial services provider's stock worth $130,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Rossby Financial LCC raised its holdings in shares of 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 period.

Analysts Set New Price Targets

Several brokerages recently issued reports on OUT. TD Cowen raised their target price on shares of OUTFRONT Media from $24.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Zacks Research downgraded OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Barrington Research upped their price objective on OUTFRONT Media from $27.00 to $33.00 and gave the company an "outperform" rating in a research note on Monday, March 2nd. Morgan Stanley raised OUTFRONT Media from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $20.00 to $28.00 in a research report on Tuesday, December 16th. Finally, Wells Fargo & Company lifted their target price on OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Six equities research 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.86.

Insider Transactions at OUTFRONT Media

In related news, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $26.93, for a total transaction of $303,528.03. Following the sale, the director owned 36,244 shares of the company's stock, valued at $976,050.92. This represents a 23.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Price Performance

NYSE:OUT opened at $27.41 on Tuesday. OUTFRONT Media Inc. has a 52 week low of $12.95 and a 52 week high of $29.27. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.92 and a current ratio of 0.92. The firm's 50-day simple moving average is $26.22 and its 200 day simple moving average is $22.67. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 1.29 and a beta of 1.51.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its earnings results on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The business had revenue of $513.30 million for the quarter, compared to analyst estimates of $511.61 million. As a group, sell-side analysts predict that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, March 6th. OUTFRONT Media's payout ratio is 150.00%.

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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