OUTFRONT Media (NYSE:OUT) Reaches New 1-Year High Following Dividend Announcement

OUTFRONT Media Inc. (NYSE:OUT)’s share price hit a new 52-week high on Thursday after the company announced a dividend. The company traded as high as $27.66 and last traded at $28.0690, with a volume of 417082 shares changing hands. The stock had previously closed at $26.86.

The newly announced dividend which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, March 6th. OUTFRONT Media’s payout ratio is presently 176.47%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. upgraded shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $25.00 in a research report on Wednesday, November 12th. Barrington Research reiterated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research report on Friday, November 7th. Zacks Research upgraded shares of OUTFRONT Media from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $27.00 target price (up from $23.00) on shares of OUTFRONT Media in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $24.57.

OUTFRONT Media Trading Up 3.9%

The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $4.67 billion, a P/E ratio of 40.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.56. The stock has a 50-day moving average price of $24.89 and a two-hundred day moving average price of $21.47.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $24.49, for a total value of $276,026.79. Following the completion of the transaction, the director directly owned 47,515 shares in the company, valued at approximately $1,163,642.35. This represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

A number of large investors have recently modified their holdings of OUT. Advisory Services Network LLC purchased a new position in shares of OUTFRONT Media during the 3rd quarter worth approximately $29,000. Private Trust Co. NA purchased a new position in shares of OUTFRONT Media in the 3rd quarter valued at approximately $33,000. Farther Finance Advisors LLC boosted its position in shares of OUTFRONT Media by 157.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,431 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of OUTFRONT Media during the fourth quarter valued at approximately $71,000. Finally, IFP Advisors Inc grew its stake in OUTFRONT Media by 16.5% in the third quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 582 shares during the period.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.