Maryland State Retirement & Pension System Sells 1,440 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Maryland State Retirement & Pension System lowered its position in OUTFRONT Media Inc. (NYSE:OUT) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,897 shares of the financial services provider’s stock after selling 1,440 shares during the period. Maryland State Retirement & Pension System’s holdings in OUTFRONT Media were worth $728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OUT. Spire Wealth Management bought a new position in OUTFRONT Media in the fourth quarter worth approximately $28,000. Riverview Trust Co bought a new position in OUTFRONT Media in the first quarter worth approximately $33,000. GAMMA Investing LLC boosted its holdings in OUTFRONT Media by 105.2% in the first quarter. GAMMA Investing LLC now owns 3,849 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,973 shares in the last quarter. CWM LLC boosted its holdings in OUTFRONT Media by 163.6% in the fourth quarter. CWM LLC now owns 6,044 shares of the financial services provider’s stock worth $84,000 after acquiring an additional 3,751 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in OUTFRONT Media in the fourth quarter worth approximately $143,000.

Analysts Set New Price Targets

Several brokerages have recently commented on OUT. JPMorgan Chase & Co. increased their price objective on OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Friday. Barrington Research increased their price objective on OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, TD Cowen began coverage on OUTFRONT Media in a research note on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, OUTFRONT Media has a consensus rating of “Hold” and an average target price of $16.00.

OUTFRONT Media Stock Up 0.3 %

OUT opened at $17.05 on Monday. OUTFRONT Media Inc. has a twelve month low of $8.18 and a twelve month high of $17.27. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.71. The company’s 50-day moving average price is $15.35 and its two-hundred day moving average price is $15.15. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -6.41, a PEG ratio of 1.11 and a beta of 1.92.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.60. The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $482.27 million. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, equities analysts expect that OUTFRONT Media Inc. will post 1.53 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 7.04%. The ex-dividend date is Friday, September 6th. OUTFRONT Media’s dividend payout ratio (DPR) is presently -45.11%.

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.