Sumitomo Mitsui Trust Group Inc. Trims Position in OUTFRONT Media Inc. (NYSE:OUT)

Sumitomo Mitsui Trust Group Inc. trimmed its position in OUTFRONT Media Inc. (NYSE:OUT) by 3.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,059,093 shares of the financial services provider’s stock after selling 78,455 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in OUTFRONT Media were worth $37,846,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of OUT. DigitalBridge Group Inc. lifted its stake in shares of OUTFRONT Media by 11.7% in the 2nd quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock worth $44,703,000 after purchasing an additional 327,125 shares during the period. Lasalle Investment Management Securities LLC boosted its stake in shares of OUTFRONT Media by 17.3% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock worth $47,733,000 after acquiring an additional 419,706 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of OUTFRONT Media by 10.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,137,548 shares of the financial services provider’s stock worth $30,567,000 after acquiring an additional 210,208 shares during the last quarter. Land & Buildings Investment Management LLC bought a new stake in shares of OUTFRONT Media during the 2nd quarter valued at $22,724,000. Finally, ZWJ Investment Counsel Inc. increased its stake in shares of OUTFRONT Media by 2.7% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 1,446,420 shares of the financial services provider’s stock worth $26,585,000 after purchasing an additional 38,327 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OUT shares. Barrington Research reiterated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research report on Wednesday. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wells Fargo & Company started coverage on shares of OUTFRONT Media in a report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wolfe Research lowered OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.25.

OUTFRONT Media Trading Down 2.6 %

Shares of OUT stock opened at $17.90 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.67 and a debt-to-equity ratio of 4.00. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.22 and a beta of 1.94. OUTFRONT Media Inc. has a 12-month low of $11.98 and a 12-month high of $19.33. The stock’s 50-day moving average price is $18.12 and its 200-day moving average price is $16.14.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.20). OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The firm had revenue of $451.90 million for the quarter, compared to analysts’ expectations of $456.38 million. During the same period last year, the company earned $0.46 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. Equities research analysts predict that OUTFRONT Media Inc. will post 1.53 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 15th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is currently 87.59%.

About OUTFRONT Media

OUTFRONT 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 will fundamentally change the ways advertisers engage audiences on-the-go.