Schnieders Capital Management LLC lessened its position in shares of Outfront Media Inc. (REIT) (NYSE:OUT) by 5.9% in the second quarter, HoldingsChannel.com reports. The firm owned 25,725 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Schnieders Capital Management LLC’s holdings in Outfront Media were worth $618,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Outfront Media by 108.1% in the 1st quarter. BlackRock Inc. now owns 13,248,278 shares of the financial services provider’s stock worth $289,212,000 after purchasing an additional 6,881,162 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Outfront Media by 201.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,310,497 shares of the financial services provider’s stock worth $55,521,000 after acquiring an additional 1,543,461 shares during the last quarter. Anomaly Capital Management LP purchased a new position in Outfront Media during the 1st quarter valued at about $28,725,000. Nuveen Asset Management LLC grew its holdings in Outfront Media by 232.5% during the 1st quarter. Nuveen Asset Management LLC now owns 1,688,615 shares of the financial services provider’s stock valued at $36,863,000 after buying an additional 1,180,776 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC purchased a new position in Outfront Media during the 1st quarter valued at about $23,744,000. 98.73% of the stock is owned by institutional investors and hedge funds.
OUT stock traded down $0.03 during trading on Friday, reaching $23.36. The stock had a trading volume of 16,511 shares, compared to its average volume of 1,668,068. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 2.83. The stock’s 50 day moving average is $23.89 and its two-hundred day moving average is $23.49. The firm has a market cap of $3.40 billion, a PE ratio of -32.04, a PEG ratio of 3.04 and a beta of 1.92. Outfront Media Inc. has a 52 week low of $12.88 and a 52 week high of $26.14.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, September 2nd. Outfront Media’s dividend payout ratio is currently 59.70%.
Separately, Morgan Stanley boosted their price objective on Outfront Media from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, June 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Outfront Media has a consensus rating of “Buy” and a consensus target price of $25.29.
In other news, CEO Jeremy J. Male sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $25.09, for a total value of $1,003,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard H. Sauer sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $25.01, for a total value of $200,080.00. The disclosure for this sale can be found here. Insiders have sold 53,000 shares of company stock valued at $1,326,730 in the last quarter. 0.71% of the stock is currently owned by company insiders.
Outfront Media Company Profile
OUTFRONT Media, Inc engages in the provision of leasing services of 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 and roadways; and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.
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