Jennison Associates LLC Invests $1.28 Million in OUTFRONT Media Inc. (NYSE:OUT)

Jennison Associates LLC acquired a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 69,656 shares of the financial services provider’s stock, valued at approximately $1,280,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DigitalBridge Group Inc. lifted its holdings in OUTFRONT Media by 11.7% during the second quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock valued at $44,703,000 after purchasing an additional 327,125 shares in the last quarter. Lasalle Investment Management Securities LLC lifted 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 valued at $47,733,000 after buying an additional 419,706 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in OUTFRONT Media by 10.9% in 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 buying an additional 210,208 shares during the period. Land & Buildings Investment Management LLC bought a new position in OUTFRONT Media in the 2nd quarter worth $22,724,000. Finally, ZWJ Investment Counsel Inc. increased its stake in 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 buying an additional 38,327 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barrington Research restated an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Wolfe Research cut OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 24th. StockNews.com lowered shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wells Fargo & Company initiated coverage on shares of OUTFRONT Media in a report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, OUTFRONT Media presently has an average rating of “Hold” and an average target price of $19.25.

OUTFRONT Media Stock Up 1.0 %

Shares of OUT opened at $19.13 on Friday. OUTFRONT Media Inc. has a 1 year low of $11.98 and a 1 year high of $19.33. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50 day simple moving average is $18.34 and its 200-day simple moving average is $16.24. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.94.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). The company had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. OUTFRONT Media’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. As a group, equities analysts expect that OUTFRONT Media Inc. will post 1.56 earnings per share for the current fiscal year.

OUTFRONT Media Cuts Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is 87.59%.

OUTFRONT Media Company Profile

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.