OUTFRONT Media (NYSE:OUT) Reaches New 12-Month High Following Dividend Announcement

OUTFRONT Media Inc. (NYSE:OUT) shares reached a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as $27.66 and last traded at $28.0690, with a volume of 417082 shares. The stock had previously closed at $26.86.

The newly announced dividend which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.3%. OUTFRONT Media’s dividend payout ratio is currently 176.47%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OUT shares. Wall Street Zen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. New Street Research set a $24.00 price objective on OUTFRONT Media in a research report on Tuesday, November 11th. Citigroup reiterated a “buy” rating and set a $23.00 price objective (up from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Barrington Research reissued an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. upgraded OUTFRONT Media from a “neutral” rating to an “overweight” rating and raised their price target for the company from $19.00 to $25.00 in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, OUTFRONT Media presently has a consensus rating of “Buy” and an average price target of $24.57.

OUTFRONT Media Trading Up 3.9%

The firm has a market capitalization of $4.67 billion, a PE ratio of 40.96, a P/E/G ratio of 1.31 and a beta of 1.56. The firm has a 50 day simple moving average of $24.89 and a 200 day simple moving average of $21.47. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 4.75.

Insider Buying and Selling

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $24.49, for a total value of $276,026.79. Following the completion of the transaction, the director owned 47,515 shares of the company’s stock, valued at approximately $1,163,642.35. The trade was a 19.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Trading of OUTFRONT Media

A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of OUTFRONT Media during the third quarter valued at approximately $29,000. Private Trust Co. NA bought a new stake in OUTFRONT Media in the 3rd quarter worth approximately $33,000. Farther Finance Advisors LLC raised its stake in OUTFRONT Media by 157.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,431 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of OUTFRONT Media during the 4th quarter valued at $71,000. Finally, IFP Advisors Inc lifted its holdings in shares of OUTFRONT Media by 16.5% during the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock valued at $78,000 after buying an additional 582 shares during the period.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.