Strs Ohio Invests $6.67 Million 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 OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing 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 approximately 0.25% of OUTFRONT Media as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of OUTFRONT Media by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock valued at $11,093,000 after buying an additional 16,470 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of OUTFRONT Media by 1,484.2% in the 1st quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider's stock valued at $971,000 after buying an additional 56,342 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of OUTFRONT Media by 429.8% in the 1st quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock valued at $529,000 after buying an additional 26,577 shares in the last quarter. Pacific Heights Asset Management LLC grew its stake in shares of OUTFRONT Media by 122.2% in the 1st quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock valued at $8,070,000 after buying an additional 275,000 shares in the last quarter. Finally, New Age Alpha Advisors LLC grew its stake in shares of OUTFRONT Media by 162.1% in the 1st quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider's stock valued at $1,996,000 after buying an additional 76,486 shares in the last quarter.

OUTFRONT Media Stock Performance

Shares of OUT traded down $0.11 during mid-day trading on Friday, hitting $18.69. The company's stock had a trading volume of 2,386,905 shares, compared to its average volume of 1,534,136. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.80. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $3.13 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 1.10 and a beta of 1.87. The stock's 50-day moving average is $18.30 and its two-hundred day moving average is $16.75.

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

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Friday, September 5th. OUTFRONT Media's dividend payout ratio is presently 206.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OUT shares. Citigroup reissued a "buy" rating and issued a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Barrington Research reissued an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, August 6th. Wall Street Zen raised OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Finally, Morgan Stanley upped their target price on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $19.00.

Insiders Place Their Bets

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

OUTFRONT Media Company Profile

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.