Rhumbline Advisers Lowers Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Rhumbline Advisers reduced its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,725 shares of the financial services provider's stock after selling 17,598 shares during the period. Rhumbline Advisers owned 0.27% of OUTFRONT Media worth $7,146,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OUT. Loomis Sayles & Co. L P purchased a new position in OUTFRONT Media in the 4th quarter worth approximately $47,000. Sterling Capital Management LLC lifted its holdings in 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 purchasing an additional 2,522 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in OUTFRONT Media by 155.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,198 shares of the financial services provider's stock worth $73,000 after purchasing an additional 2,555 shares in the last quarter. Lazard Asset Management LLC purchased a new position in OUTFRONT Media in the 4th quarter worth approximately $113,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of OUTFRONT Media during the 4th quarter worth approximately $192,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OUT. Morgan Stanley decreased their price objective on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Barrington Research reaffirmed an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Wednesday, April 23rd. Wall Street Zen cut OUTFRONT Media from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Citigroup reaffirmed a "buy" rating and set a $19.00 price objective (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.23.

OUTFRONT Media Trading Down 3.1%

NYSE:OUT traded down $0.51 during midday trading on Friday, hitting $15.61. 1,200,106 shares of the company traded hands, compared to its average volume of 1,649,260. The firm's fifty day moving average is $15.57 and its 200-day moving average is $17.14. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.98. The firm has a market capitalization of $2.61 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.06 and a beta of 1.89. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 4.00.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company had revenue of $390.70 million for the quarter, compared to analysts' expectations of $396.17 million. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, June 6th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.69%. The ex-dividend date of this dividend was Friday, June 6th. OUTFRONT Media's dividend payout ratio is 78.95%.

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.