ZWJ Investment Counsel Inc. increased its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,147,270 shares of the financial services provider’s stock after buying an additional 47,254 shares during the quarter. OUTFRONT Media accounts for approximately 2.3% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 9th biggest position. ZWJ Investment Counsel Inc. owned approximately 827,636.70% of OUTFRONT Media worth $28,888,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in OUTFRONT Media by 6,693.0% during the first quarter. BlackRock Inc. now owns 7,335,438 shares of the financial services provider’s stock valued at $194,756,000 after purchasing an additional 7,227,453 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in OUTFRONT Media during the second quarter valued at $100,424,000. Daiwa Securities Group Inc. boosted its position in OUTFRONT Media by 69.8% during the second quarter. Daiwa Securities Group Inc. now owns 3,864,333 shares of the financial services provider’s stock valued at $89,343,000 after purchasing an additional 1,589,096 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in OUTFRONT Media by 53.7% during the second quarter. Deprince Race & Zollo Inc. now owns 2,980,580 shares of the financial services provider’s stock valued at $68,911,000 after purchasing an additional 1,040,813 shares during the last quarter. Finally, Magnolia Group LLC acquired a new stake in OUTFRONT Media during the third quarter valued at $25,180,000. Institutional investors and hedge funds own 99.38% of the company’s stock.
Shares of OUTFRONT Media Inc. (NYSE:OUT) opened at $24.17 on Friday. OUTFRONT Media Inc. has a 12-month low of $20.82 and a 12-month high of $27.89. The firm has a market capitalization of $3,346.68, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.23 and a quick ratio of 1.23.
OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). The company had revenue of $392.40 million during the quarter, compared to analyst estimates of $391.18 million. OUTFRONT Media had a return on equity of 9.57% and a net margin of 7.71%. OUTFRONT Media’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. sell-side analysts expect that OUTFRONT Media Inc. will post 1.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.36 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.96%. OUTFRONT Media’s payout ratio is presently 171.43%.
A number of research firms recently issued reports on OUT. Barrington Research reissued an “outperform” rating and set a $26.00 price objective (down previously from $29.00) on shares of OUTFRONT Media in a research report on Monday, August 14th. BidaskClub cut OUTFRONT Media from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. ValuEngine raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $28.00 price target (up previously from $27.00) on shares of OUTFRONT Media in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. OUTFRONT Media presently has a consensus rating of “Hold” and an average target price of $30.17.
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About OUTFRONT Media
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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