Sumitomo Mitsui Trust Group Inc. Reduces Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,059,093 shares of the financial services provider’s stock after selling 78,455 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.24% of OUTFRONT Media worth $37,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ProShare Advisors LLC grew its holdings in shares of OUTFRONT Media by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 29,710 shares of the financial services provider’s stock worth $499,000 after acquiring an additional 2,044 shares during the period. State Board of Administration of Florida Retirement System grew its stake in OUTFRONT Media by 17.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 49,590 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 7,450 shares during the period. UniSuper Management Pty Ltd bought a new position in OUTFRONT Media in the first quarter worth $787,000. CANADA LIFE ASSURANCE Co lifted its position in OUTFRONT Media by 9.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 125,276 shares of the financial services provider’s stock valued at $2,102,000 after buying an additional 11,332 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of OUTFRONT Media during the 1st quarter valued at $335,000.

OUTFRONT Media Stock Down 2.6 %

OUTFRONT Media stock opened at $17.90 on Friday. OUTFRONT Media Inc. has a 12 month low of $11.98 and a 12 month high of $19.33. The stock has a fifty day simple moving average of $18.12 and a two-hundred day simple moving average of $16.14. 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 firm has a market cap of $2.97 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.22 and a beta of 1.94.

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

OUTFRONT Media Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OUT. Barrington Research reissued an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday. Wolfe Research downgraded OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. Wells Fargo & Company started coverage on OUTFRONT Media in a research note on Thursday, September 19th. They set an “overweight” rating and a $22.00 price objective for the company. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, OUTFRONT Media has an average rating of “Hold” and a consensus price target of $19.25.

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.