Raymond James Financial Services Advisors Inc. Takes Position in Outfront Media Inc. (NYSE:OUT)

Raymond James Financial Services Advisors Inc. bought a new stake in Outfront Media Inc. (NYSE:OUT – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 54,597 shares of the financial services provider’s stock, valued at approximately $829,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in OUT. Goldman Sachs Group Inc. lifted its stake in shares of Outfront Media by 244.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,592,568 shares of the financial services provider’s stock valued at $102,137,000 after purchasing an additional 2,548,117 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Outfront Media by 54.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,620,619 shares of the financial services provider’s stock valued at $44,419,000 after buying an additional 919,728 shares during the last quarter. Centersquare Investment Management LLC raised its stake in Outfront Media by 37.3% during the first quarter. Centersquare Investment Management LLC now owns 2,716,268 shares of the financial services provider’s stock valued at $77,224,000 after buying an additional 737,670 shares during the last quarter. Invesco Ltd. raised its stake in Outfront Media by 23.8% during the first quarter. Invesco Ltd. now owns 3,788,625 shares of the financial services provider’s stock valued at $107,710,000 after buying an additional 728,105 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Outfront Media during the first quarter valued at $19,094,000.

Outfront Media Stock Performance

Shares of OUT opened at $18.47 on Monday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.82 and a quick ratio of 0.82. Outfront Media Inc. has a one year low of $14.97 and a one year high of $29.36. The firm has a market capitalization of $3.03 billion, a P/E ratio of 20.99, a PEG ratio of 0.90 and a beta of 1.64. The business has a fifty day moving average of $17.59 and a 200 day moving average of $17.60.

Outfront Media Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 2nd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend was Thursday, December 1st. Outfront Media’s payout ratio is currently 136.37%.

Wall Street Analysts Forecast Growth

OUT has been the subject of a number of recent research reports. StockNews.com cut Outfront Media from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. Morgan Stanley reduced their target price on Outfront Media from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, December 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Outfront Media currently has an average rating of “Hold” and an average price target of $27.25.

Outfront Media Company Profile

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Outfront Media Inc 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 Media Inc will fundamentally change the ways advertisers engage audiences on-the-go.