OUTFRONT Media Inc. (NYSE:OUT) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 33.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,284 shares of the financial services provider’s stock after selling 43,524 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of OUTFRONT Media worth $1,409,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in OUTFRONT Media by 2.8% during the fourth quarter. Victory Capital Management Inc. now owns 26,340 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 706 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in OUTFRONT Media during the fourth quarter worth $292,000. Arizona State Retirement System raised its holdings in OUTFRONT Media by 7.5% during the fourth quarter. Arizona State Retirement System now owns 41,072 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 2,859 shares during the last quarter. Raymond James Financial Inc. acquired a new position in OUTFRONT Media during the fourth quarter worth $980,000. Finally, Swiss National Bank raised its holdings in OUTFRONT Media by 5.3% during the fourth quarter. Swiss National Bank now owns 272,984 shares of the financial services provider’s stock worth $4,843,000 after purchasing an additional 13,730 shares during the last quarter.

Analyst Ratings Changes

OUT has been the subject of a number of recent analyst reports. Wall Street Zen downgraded OUTFRONT Media from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Citigroup reaffirmed a “buy” rating and issued a $19.00 price objective (up previously from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Wells Fargo & Company lowered their price objective on OUTFRONT Media from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. lowered their price objective on OUTFRONT Media from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, May 21st. Finally, Barrington Research reissued an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.23.

Insider Buying and Selling at OUTFRONT Media

In related news, EVP Richard H. Sauer sold 20,109 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.88, for a total value of $319,330.92. Following the completion of the sale, the executive vice president owned 70,836 shares of the company’s stock, valued at $1,124,875.68. This trade represents a 22.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

OUTFRONT Media Trading Up 0.5%

Shares of NYSE:OUT opened at $17.61 on Friday. The company has a debt-to-equity ratio of 4.37, a quick ratio of 0.61 and a current ratio of 0.61. The stock’s 50-day moving average is $16.28 and its 200-day moving average is $16.78. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $19.98. The company has a market cap of $2.94 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.07 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $390.70 million for the quarter, compared to the consensus estimate of $396.17 million. OUTFRONT Media had a return on equity of 42.24% and a net margin of 14.60%. Equities research analysts predict that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, June 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend was Friday, June 6th. OUTFRONT Media’s payout ratio is 78.95%.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.