Prudential Financial Inc. raised its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 572.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,054,426 shares of the financial services provider’s stock after buying an additional 897,554 shares during the period. Prudential Financial Inc. owned 0.76% of OUTFRONT Media worth $27,995,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new stake in OUTFRONT Media during the first quarter valued at about $60,408,000. Scout Investments Inc. acquired a new stake in OUTFRONT Media during the third quarter valued at about $39,319,000. Norges Bank acquired a new stake in OUTFRONT Media during the fourth quarter valued at about $32,005,000. Vulcan Value Partners LLC acquired a new stake in OUTFRONT Media during the fourth quarter valued at about $23,839,000. Finally, Janus Capital Management LLC boosted its position in shares of OUTFRONT Media by 20.7% in the fourth quarter. Janus Capital Management LLC now owns 5,461,930 shares of the financial services provider’s stock valued at $135,838,000 after buying an additional 937,140 shares in the last quarter.
Shares of OUTFRONT Media Inc. (NYSE:OUT) opened at 23.63 on Friday. The company’s 50-day moving average is $23.30 and its 200-day moving average is $25.40. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 34.10 and a beta of 1.15. OUTFRONT Media Inc. has a 12-month low of $20.72 and a 12-month high of $27.89.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.44 annualized dividend and a yield of 6.10%. OUTFRONT Media’s dividend payout ratio is presently 205.72%.
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OUT has been the subject of several recent analyst reports. Zacks Investment Research raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, March 1st. Loop Capital raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, June 5th. Finally, TheStreet cut shares of OUTFRONT Media from a “b-” rating to a “c” rating in a research note on Friday, May 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. OUTFRONT Media currently has a consensus rating of “Hold” and an average price target of $30.14.
OUTFRONT Media Company Profile
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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