King Luther Capital Management Corp trimmed its position in OUTFRONT Media Inc. (NYSE:OUT) by 33.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,090 shares of the financial services provider’s stock after selling 70,015 shares during the quarter. King Luther Capital Management Corp owned 0.10% of OUTFRONT Media worth $3,553,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. NGAM Advisors L.P. lifted its holdings in OUTFRONT Media by 83.8% during the 2nd quarter. NGAM Advisors L.P. now owns 145,855 shares of the financial services provider’s stock worth $3,373,000 after buying an additional 66,517 shares during the last quarter. Smithfield Trust Co. grew its position in OUTFRONT Media by 435.6% in the 2nd quarter. Smithfield Trust Co. now owns 5,742 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 4,670 shares in the last quarter. Honeywell International Inc. bought a new stake in OUTFRONT Media in the 2nd quarter worth about $863,000. TD Asset Management Inc. grew its position in OUTFRONT Media by 16.1% in the 2nd quarter. TD Asset Management Inc. now owns 15,848 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in OUTFRONT Media in the 2nd quarter worth about $817,000.
A number of equities research analysts have issued reports on OUT shares. Zacks Investment Research raised shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Barrington Research reaffirmed an “outperform” rating and issued a $26.00 price objective (down from $29.00) on shares of OUTFRONT Media in a research report on Monday, August 14th. ValuEngine raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of OUTFRONT Media in a research report on Tuesday, October 3rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $28.00 price objective (up from $27.00) on shares of OUTFRONT Media in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. OUTFRONT Media currently has a consensus rating of “Hold” and an average target price of $30.17.
OUTFRONT Media (NYSE:OUT) last released its earnings results on Monday, November 6th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.20). The company had revenue of $392.40 million during the quarter, compared to analysts’ expectations of $391.18 million. OUTFRONT Media had a net margin of 7.71% and a return on equity of 9.57%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. sell-side analysts expect that OUTFRONT Media Inc. will post 1.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend is Thursday, December 7th. OUTFRONT Media’s payout ratio is currently 171.43%.
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OUTFRONT Media Profile
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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