Public Sector Pension Investment Board Has $7.05 Million Position in OUTFRONT Media Inc. $OUT

Key Points

• The Public Sector Pension Investment Board increased its holdings in OUTFRONT Media Inc. by 27.3%, owning approximately $7.05 million worth of shares as of its latest SEC filing.
• Analysts like Morgan Stanley raised their price target for OUTFRONT Media from $17.00 to $19.00, while Barrington Research set a target of $21.00, reflecting positive expectations for the stock.
• OUTFRONT Media recently declared a quarterly dividend of $0.30, with an annualized dividend yield of 6.4%, despite a high payout ratio of 206.90%.

Public Sector Pension Investment Board increased its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 436,940 shares of the financial services provider's stock after purchasing an additional 93,724 shares during the quarter. Public Sector Pension Investment Board owned about 0.26% of OUTFRONT Media worth $7,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its stake in shares of OUTFRONT Media by 672.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock worth $51,000 after acquiring an additional 2,522 shares during the period. Rossby Financial LCC bought a new stake in OUTFRONT Media during the first quarter worth approximately $74,000. Lazard Asset Management LLC acquired a new stake in OUTFRONT Media in the fourth quarter worth approximately $113,000. IFP Advisors Inc lifted its position in OUTFRONT Media by 97.6% in the first 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 during the period. Finally, Signaturefd LLC boosted 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 valued at $149,000 after purchasing an additional 722 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Citigroup reiterated a "buy" rating and issued a $19.00 target price (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Wall Street Zen upgraded shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Barrington Research restated an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, OUTFRONT Media has an average rating of "Moderate Buy" and an average price target of $19.00.

Insider Buying and Selling

In other OUTFRONT Media news, EVP Richard H. Sauer sold 29,891 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $471,978.89. Following the transaction, the executive vice president directly owned 90,945 shares of the company's stock, valued at $1,436,021.55. This represents a 24.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

OUTFRONT Media Stock Up 1.2%

OUT traded up $0.22 on Tuesday, reaching $18.99. 280,717 shares of the company traded hands, compared to its average volume of 1,582,705. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.11 and a beta of 1.89. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.61 and a quick ratio of 0.61. The stock's 50 day moving average price is $17.19 and its 200-day moving average price is $16.70. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $19.50.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The company had revenue of $460.20 million during the quarter, compared to the consensus estimate of $463.16 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The company's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

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

About OUTFRONT Media

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.