Strs Ohio Purchases New Position in OUTFRONT Media Inc. $OUT

Key Points

• Strs Ohio has acquired a new position in OUTFRONT Media Inc., purchasing 413,329 shares valued at approximately $6.67 million during the 1st quarter.
• OUTFRONT Media recently announced a quarterly dividend of $0.30 per share, representing an annual yield of 6.3%, with a payout ratio of 206.90%.
• Analysts have varying ratings for OUTFRONT Media, with an average price target of $19.00, highlighting a mix of "buy" and "hold" recommendations.

Strs Ohio purchased a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 413,329 shares of the financial services provider's stock, valued at approximately $6,671,000. Strs Ohio owned about 0.25% of OUTFRONT Media at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of OUTFRONT Media by 7.6% during the 1st quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider's stock valued at $126,476,000 after purchasing an additional 555,568 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock worth $80,393,000 after purchasing an additional 448,993 shares during the period. Wellington Management Group LLP lifted its position in shares of OUTFRONT Media by 9.1% in the 4th quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider's stock worth $73,005,000 after purchasing an additional 342,413 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of OUTFRONT Media by 7.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,248,114 shares of the financial services provider's stock valued at $36,285,000 after acquiring an additional 153,617 shares during the period. Finally, LSV Asset Management lifted its position in shares of OUTFRONT Media by 25.7% during the 1st quarter. LSV Asset Management now owns 2,005,448 shares of the financial services provider's stock valued at $32,368,000 after acquiring an additional 410,086 shares during the period.

OUTFRONT Media Trading Up 1.1%

OUT stock opened at $18.94 on Monday. The company has a market capitalization of $3.17 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.87. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.80. The company's 50 day moving average price is $18.14 and its two-hundred day moving average price is $16.71. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61.

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

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.30 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.20 annualized dividend and a yield of 6.3%. OUTFRONT Media's payout ratio is 206.90%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Barrington Research restated an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. cut their target price on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Finally, Citigroup reissued a "buy" rating and issued a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Three equities research analysts have rated the stock with a Buy rating and three have given 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 at OUTFRONT Media

In related news, EVP Mark Emilio Bonanni sold 4,126 shares of OUTFRONT Media stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the sale, the executive vice president owned 4,170 shares in the company, valued at $80,814.60. The trade was a 49.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the completion of the sale, the insider owned 8,913,813 shares in the company, valued at approximately $160,983,462.78. This trade represents a 48.52% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

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.

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