OUTFRONT Media Inc. Announces Quarterly Dividend of $0.30 (NYSE:OUT)

OUTFRONT Media Inc. (NYSE:OUT) declared a quarterly dividend on Wednesday, February 25th. Investors of record on Friday, March 6th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, March 6th.

OUTFRONT Media has raised its dividend by an average of 0.0%annually over the last three years. OUTFRONT Media has a payout ratio of 141.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect OUTFRONT Media to earn $1.72 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 69.8%.

OUTFRONT Media Stock Performance

OUT traded up $1.33 during trading on Thursday, hitting $28.19. The stock had a trading volume of 1,036,526 shares, compared to its average volume of 1,312,224. The firm has a market cap of $4.71 billion, a PE ratio of 41.46, a P/E/G ratio of 1.31 and a beta of 1.56. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 4.75. OUTFRONT Media has a 12 month low of $12.95 and a 12 month high of $28.41. The company has a 50 day simple moving average of $24.89 and a 200-day simple moving average of $21.47.

Insider Buying and Selling at OUTFRONT Media

In related news, Director Manuel A. Diaz sold 11,271 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was 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 of the company’s stock, valued at $1,163,642.35. This trade represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On OUTFRONT Media

A number of hedge funds have recently made changes to their positions in OUT. Vanguard Group Inc. boosted its position in shares of OUTFRONT Media by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock valued at $545,983,000 after acquiring an additional 1,131,954 shares in the last quarter. Cohen & Steers Inc. lifted its stake in OUTFRONT Media by 2.2% during the fourth quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider’s stock worth $537,779,000 after purchasing an additional 486,192 shares during the period. State Street Corp boosted its holdings in OUTFRONT Media by 2.1% during the fourth quarter. State Street Corp now owns 5,483,013 shares of the financial services provider’s stock valued at $132,141,000 after purchasing an additional 111,084 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock valued at $80,393,000 after purchasing an additional 448,993 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of OUTFRONT Media by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 4,309,133 shares of the financial services provider’s stock valued at $103,850,000 after purchasing an additional 335,265 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.