Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 66,000 shares of the financial services provider's stock, valued at approximately $944,000.
A number of other hedge funds have also bought and sold shares of OUT. Land & Buildings Investment Management LLC bought a new stake in shares of OUTFRONT Media during the 2nd quarter valued at $22,724,000. DAVENPORT & Co LLC grew its stake in OUTFRONT Media by 145.8% during the first quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider's stock worth $28,825,000 after buying an additional 1,020,719 shares in the last quarter. Lasalle Investment Management Securities LLC grew its stake in OUTFRONT Media by 17.3% during the first quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider's stock worth $47,733,000 after buying an additional 419,706 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in OUTFRONT Media by 23.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,927,340 shares of the financial services provider's stock valued at $32,360,000 after buying an additional 371,978 shares during the period. Finally, First Eagle Investment Management LLC raised its position in shares of OUTFRONT Media by 216.1% in the 1st quarter. First Eagle Investment Management LLC now owns 479,191 shares of the financial services provider's stock valued at $8,046,000 after buying an additional 327,584 shares in the last quarter.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on OUT shares. TD Cowen assumed coverage on shares of OUTFRONT Media in a research note on Tuesday, July 16th. They issued a "hold" rating and a $16.00 price objective on the stock. Wells Fargo & Company began coverage on OUTFRONT Media in a report on Thursday, September 19th. They set an "overweight" rating and a $22.00 price target for the company. StockNews.com raised OUTFRONT Media from a "hold" rating to a "buy" rating in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their target price on OUTFRONT Media from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Finally, Barrington Research increased their target price on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.20.
Read Our Latest Research Report on OUT
OUTFRONT Media Trading Up 1.2 %
Shares of NYSE:OUT traded up $0.22 during midday trading on Tuesday, hitting $18.22. 1,365,715 shares of the stock were exchanged, compared to its average volume of 1,740,984. The business's 50-day moving average price is $16.72 and its 200 day moving average price is $15.63. OUTFRONT Media Inc. has a 12 month low of $8.20 and a 12 month high of $18.89. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -6.85, a P/E/G ratio of 1.21 and a beta of 1.94.
OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.60. The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $482.27 million. OUTFRONT Media had a net margin of 12.32% and a return on equity of 37.83%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. Analysts predict that OUTFRONT Media Inc. will post 1.53 earnings per share for the current year.
OUTFRONT Media Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Friday, September 6th. OUTFRONT Media's dividend payout ratio is currently -45.11%.
OUTFRONT Media Company Profile
(
Free Report)
OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.
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