Zacks Investment Research upgraded shares of Outfront Media Inc (NYSE:OUT) from a sell rating to a hold rating in a research note issued to investors on Monday, July 10th.
According to Zacks, “Recently, Outfront Media announced that it has accomplished an asset swap with Independent Outdoor Network. Specifically, the company acquired digital billboards in the Boston designated market area (DMA) in exchange for static billboards in four non-metro market clusters considered not strategic to its top DMA focus. Notably, the company’s huge geographic diversity, efforts to convert from traditional static billboard displays to digital billboard displays and low-cost out-of-home (OOH) platform augur well for its long-term growth. However, the company’s first-quarter 2017 results reflected weakness in national advertising market, mainly in the automotive category, and the trend is likely to continue in the second quarter as well. Also, shares of the company underperformed the Zacks categorized REIT – Equity Trust – Other industry in the past three months.”
Several other equities analysts also recently issued reports on OUT. Loop Capital raised shares of Outfront Media from a hold rating to a buy rating and set a $27.00 price objective on the stock in a research note on Monday, June 5th. TheStreet downgraded shares of Outfront Media from a b- rating to a c rating in a research note on Friday, May 12th. Finally, ValuEngine downgraded shares of Outfront Media from a buy rating to a hold rating in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $30.33.
Shares of Outfront Media (NYSE OUT) remained flat at $22.24 during mid-day trading on Monday. The company’s stock had a trading volume of 1,205,935 shares. The stock has a market cap of $3.08 billion, a P/E ratio of 32.09 and a beta of 1.13. The firm has a 50-day moving average of $23.02 and a 200-day moving average of $24.92. Outfront Media has a 52-week low of $20.72 and a 52-week high of $27.89.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.36 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.44 annualized dividend and a yield of 6.47%. Outfront Media’s dividend payout ratio is presently 189.48%.
Several hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its stake in Outfront Media by 5.9% in the first quarter. Asset Management One Co. Ltd. now owns 3,785 shares of the financial services provider’s stock worth $100,000 after buying an additional 210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Outfront Media by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,106 shares of the financial services provider’s stock valued at $118,000 after buying an additional 478 shares in the last quarter. Smithfield Trust Co. boosted its position in shares of Outfront Media by 435.6% in the second quarter. Smithfield Trust Co. now owns 5,742 shares of the financial services provider’s stock valued at $133,000 after buying an additional 4,670 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Outfront Media by 47.5% in the first quarter. Quantbot Technologies LP now owns 6,419 shares of the financial services provider’s stock valued at $170,000 after buying an additional 2,068 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Outfront Media during the first quarter valued at about $204,000.
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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