Sumitomo Mitsui Trust Group Inc. Decreases Position in OUTFRONT Media Inc. $OUT

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 11.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,737,042 shares of the financial services provider’s stock after selling 235,462 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in OUTFRONT Media were worth $46,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OUT. Advisory Services Network LLC purchased a new stake in shares of OUTFRONT Media during the third quarter worth about $29,000. Farther Finance Advisors LLC raised its holdings in shares of OUTFRONT Media by 157.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,431 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of OUTFRONT Media in the fourth quarter worth $71,000. IFP Advisors Inc lifted its stake in shares of OUTFRONT Media by 16.5% during the third quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock worth $78,000 after buying an additional 582 shares during the period. Finally, State of Wyoming grew its holdings in shares of OUTFRONT Media by 155.5% during the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock valued at $130,000 after buying an additional 4,853 shares during the last quarter.

Insider Activity

In other news, EVP James Michael Norton acquired 4,130 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the purchase, the executive vice president owned 4,130 shares in the company, valued at approximately $127,245.30. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the transaction, the executive vice president owned 56,947 shares in the company, valued at $1,826,859.76. The trade was a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 20,000 shares of company stock valued at $629,600. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

OUT has been the topic of several research reports. TD Cowen reissued a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a report on Friday, May 8th. Finally, Barrington Research set a $38.00 price objective on OUTFRONT Media in a research note on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.71.

OUTFRONT Media Price Performance

OUTFRONT Media stock opened at $32.93 on Monday. The stock has a market capitalization of $5.80 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.56 and a beta of 1.48. The company’s fifty day moving average price is $32.11 and its 200 day moving average price is $28.51. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.82 and a current ratio of 0.82. OUTFRONT Media Inc. has a 1 year low of $16.64 and a 1 year high of $34.96.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $429.60 million during the quarter, compared to analysts’ expectations of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, equities research analysts anticipate that OUTFRONT Media Inc. will post 2.12 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, June 5th. OUTFRONT Media’s dividend payout ratio is 114.29%.

OUTFRONT Media Company Profile

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.