Sumitomo Mitsui Trust Group Inc. Grows Position in OUTFRONT Media Inc. (NYSE:OUT)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,248,114 shares of the financial services provider's stock after buying an additional 153,617 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.35% of OUTFRONT Media worth $36,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of OUTFRONT Media by 1.9% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,005 shares of the financial services provider's stock worth $532,000 after purchasing an additional 558 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in OUTFRONT Media by 5.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,237 shares of the financial services provider's stock valued at $199,000 after purchasing an additional 596 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in OUTFRONT Media by 4.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 15,993 shares of the financial services provider's stock valued at $284,000 after purchasing an additional 629 shares in the last quarter. Victory Capital Management Inc. raised its holdings in OUTFRONT Media by 2.8% during the fourth quarter. Victory Capital Management Inc. now owns 26,340 shares of the financial services provider's stock worth $467,000 after buying an additional 706 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in OUTFRONT Media by 5.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 15,484 shares of the financial services provider's stock worth $275,000 after buying an additional 812 shares during the last quarter.

Analyst Ratings Changes

OUT has been the subject of a number of analyst reports. Barrington Research reiterated an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Wednesday, April 23rd. Morgan Stanley dropped their price target on shares of OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Citigroup reiterated a "buy" rating and set a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Wells Fargo & Company lowered their price objective on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. dropped their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.23.

Insider Buying and Selling

In other OUTFRONT Media news, EVP Richard H. Sauer sold 20,109 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $15.88, for a total value of $319,330.92. Following the transaction, the executive vice president owned 70,836 shares of the company's stock, valued at approximately $1,124,875.68. The trade was a 22.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

OUTFRONT Media Stock Up 0.1%

Shares of OUT traded up $0.01 during trading hours on Friday, reaching $17.15. 664,893 shares of the stock traded hands, compared to its average volume of 1,662,545. OUTFRONT Media Inc. has a 52 week low of $12.95 and a 52 week high of $19.98. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.04 and a beta of 1.87. The stock has a fifty day simple moving average of $16.10 and a 200 day simple moving average of $16.83. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.37.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). OUTFRONT Media had a net margin of 14.60% and a return on equity of 42.24%. The firm had revenue of $390.70 million during the quarter, compared to analysts' expectations of $396.17 million. On average, equities analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date of this dividend was Friday, June 6th. OUTFRONT Media's payout ratio is 78.95%.

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.