Sumitomo Mitsui Trust Group Inc. Reduces Stake in OUTFRONT Media Inc. $OUT

Sumitomo Mitsui Trust Group Inc. cut its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,089,443 shares of the financial services provider’s stock after selling 175,231 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.25% of OUTFRONT Media worth $38,279,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of OUT. CWM LLC increased its position in shares of OUTFRONT Media by 8.3% in the third quarter. CWM LLC now owns 8,229 shares of the financial services provider’s stock valued at $151,000 after buying an additional 631 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in OUTFRONT Media by 1.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 740 shares during the last quarter. Bank of Montreal Can increased its holdings in OUTFRONT Media by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 36,066 shares of the financial services provider’s stock valued at $589,000 after acquiring an additional 758 shares in the last quarter. Yousif Capital Management LLC increased its holdings in OUTFRONT Media by 1.6% during the 2nd quarter. Yousif Capital Management LLC now owns 51,633 shares of the financial services provider’s stock valued at $843,000 after acquiring an additional 791 shares in the last quarter. Finally, Assetmark Inc. raised its position in OUTFRONT Media by 2.2% during the second quarter. Assetmark Inc. now owns 42,908 shares of the financial services provider’s stock worth $700,000 after acquiring an additional 909 shares during the last quarter.

Insider Activity at OUTFRONT Media

In other news, Director Manuel A. Diaz sold 11,270 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $22.18, for a total transaction of $249,968.60. Following the completion of the transaction, the director owned 58,786 shares of the company’s stock, valued at $1,303,873.48. This represents a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

OUT has been the topic of several research reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of OUTFRONT Media in a research report on Thursday, December 18th. Wall Street Zen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. TD Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Tuesday, November 11th. Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. Finally, New Street Research set a $24.00 price objective on OUTFRONT Media in a research report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $24.57.

OUTFRONT Media Trading Up 3.2%

Shares of OUT opened at $25.23 on Friday. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $25.25. The company has a market capitalization of $4.22 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.57. The stock has a fifty day moving average of $23.41 and a two-hundred day moving average of $19.92. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.79 and a current ratio of 0.79.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.21). The business had revenue of $467.50 million for the quarter, compared to analyst estimates of $458.32 million. OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.OUTFRONT Media’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. As a group, analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th were issued a $0.30 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.20 annualized dividend and a yield of 4.8%. OUTFRONT Media’s payout ratio is 176.47%.

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.