Public Sector Pension Investment Board Sells 28,900 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Public Sector Pension Investment Board reduced its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 9.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 292,279 shares of the financial services provider’s stock after selling 28,900 shares during the quarter. Public Sector Pension Investment Board’s holdings in OUTFRONT Media were worth $5,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its position in shares of OUTFRONT Media by 13.6% during the third quarter. FMR LLC now owns 6,711,791 shares of the financial services provider’s stock worth $123,363,000 after purchasing an additional 803,292 shares during the period. DigitalBridge Group Inc. raised its holdings in OUTFRONT Media by 11.7% during the 2nd quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock worth $44,703,000 after buying an additional 327,125 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in OUTFRONT Media by 10.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,137,548 shares of the financial services provider’s stock worth $30,567,000 after buying an additional 210,208 shares during the period. Land & Buildings Investment Management LLC bought a new position in OUTFRONT Media in the second quarter valued at approximately $22,724,000. Finally, ZWJ Investment Counsel Inc. increased its position in shares of OUTFRONT Media by 2.7% during the third quarter. ZWJ Investment Counsel Inc. now owns 1,446,420 shares of the financial services provider’s stock worth $26,585,000 after acquiring an additional 38,327 shares in the last quarter.

OUTFRONT Media Stock Up 0.1 %

NYSE:OUT opened at $19.21 on Monday. OUTFRONT Media Inc. has a twelve month low of $11.98 and a twelve month high of $19.50. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.94. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock’s 50 day moving average price is $18.48 and its two-hundred day moving average price is $16.40.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The firm had revenue of $451.90 million for the quarter, compared to analyst estimates of $456.38 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. OUTFRONT Media’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts expect that OUTFRONT Media Inc. will post 1.56 earnings per share for the current fiscal year.

OUTFRONT Media Cuts Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 15th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s payout ratio is currently 87.59%.

Analyst Ratings Changes

A number of analysts have recently commented on OUT shares. Wolfe Research lowered OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 24th. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Barrington Research reaffirmed an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company initiated coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.25.

About OUTFRONT Media

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.