Advisors Capital Management LLC Buys 497,781 Shares of OUTFRONT Media Inc. $OUT

Advisors Capital Management LLC increased its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 36.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,881,277 shares of the financial services provider’s stock after acquiring an additional 497,781 shares during the period. Advisors Capital Management LLC owned 1.13% of OUTFRONT Media worth $30,702,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey boosted its position in OUTFRONT Media by 5.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 33,117 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 1,735 shares during the period. Bailard Inc. raised its position in shares of OUTFRONT Media by 160.3% in the second quarter. Bailard Inc. now owns 46,552 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 28,667 shares during the period. CSM Advisors LLC acquired a new stake in shares of OUTFRONT Media in the second quarter worth $728,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of OUTFRONT Media by 6.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,337 shares of the financial services provider’s stock worth $1,654,000 after buying an additional 6,048 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in shares of OUTFRONT Media by 13.5% during the 2nd quarter. Penserra Capital Management LLC now owns 65,327 shares of the financial services provider’s stock worth $1,066,000 after buying an additional 7,747 shares during the period.

OUTFRONT Media Stock Performance

OUT opened at $21.67 on Friday. The stock’s 50 day simple moving average is $18.38 and its 200-day simple moving average is $17.49. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 4.75. The stock has a market cap of $3.62 billion, a PE ratio of 31.87, a P/E/G ratio of 1.26 and a beta of 1.82. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $21.88.

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

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, December 5th. OUTFRONT Media’s payout ratio is 176.47%.

Wall Street Analyst Weigh In

OUT has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of OUTFRONT Media from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday. Citigroup reiterated a “buy” rating and issued a $23.00 price objective (up from $20.00) on shares of OUTFRONT Media in a research note on Wednesday. JPMorgan Chase & Co. raised OUTFRONT Media from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $25.00 in a research report on Wednesday. Wall Street Zen raised OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, TD Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, EVP Mark Emilio Bonanni sold 4,126 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the completion of the transaction, the executive vice president owned 4,170 shares in the company, valued at $80,814.60. This trade represents a 49.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total value of $151,704,000.00. Following the sale, the insider directly owned 8,913,813 shares in the company, valued at $160,983,462.78. The trade was a 48.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.47% of the company’s stock.

OUTFRONT Media Company Profile

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.