Teachers Insurance & Annuity Association of America Reduces Stake in OUTFRONT Media Inc. (OUT)
Teachers Insurance & Annuity Association of America decreased its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,055 shares of the company’s stock after selling 2,784 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in OUTFRONT Media were worth $3,454,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Checchi Capital Advisers LLC increased its stake in OUTFRONT Media by 46.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,142 shares of the company’s stock valued at $100,000 after buying an additional 1,317 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in OUTFRONT Media by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 4,449 shares of the company’s stock valued at $105,000 after buying an additional 18 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in OUTFRONT Media by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,628 shares of the company’s stock valued at $109,000 after buying an additional 513 shares in the last quarter. Advisory Services Network LLC increased its stake in OUTFRONT Media by 33.0% in the second quarter. Advisory Services Network LLC now owns 4,986 shares of the company’s stock valued at $121,000 after buying an additional 1,236 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in OUTFRONT Media by 27.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,097 shares of the company’s stock valued at $123,000 after buying an additional 1,092 shares in the last quarter.
OUTFRONT Media Inc. (NYSE:OUT) traded up 1.25% during mid-day trading on Friday, hitting $26.67. 188,890 shares of the stock traded hands. The stock has a 50-day moving average price of $25.11 and a 200-day moving average price of $23.25. The stock’s market cap is $3.68 billion. OUTFRONT Media Inc. has a 12 month low of $18.01 and a 12 month high of $26.69.
OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.25. OUTFRONT Media had a negative return on equity of 0.79% and a negative net margin of 0.63%. The company had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.38 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. OUTFRONT Media’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts forecast that OUTFRONT Media Inc. will post $0.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 9th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $1.36 annualized dividend and a yield of 5.16%. OUTFRONT Media’s dividend payout ratio is currently -1,942.58%.
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OUT has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Wells Fargo & Company raised shares of OUTFRONT Media from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $23.00 to $28.00 in a research note on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $26.33.
OUTFRONT Media Company Profile
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.
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