Fmr LLC lowered its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 16.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,424,791 shares of the financial services provider’s stock after selling 1,832,238 shares during the quarter. Fmr LLC owned approximately 6.80% of OUTFRONT Media worth $217,901,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OUT. Asset Management One Co. Ltd. boosted its holdings 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 valued at $100,000 after acquiring an additional 210 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in 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 worth $118,000 after purchasing an additional 478 shares during the period. Pacad Investment Ltd. increased its position in OUTFRONT Media by 54.3% in the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,900 shares during the period. Smithfield Trust Co. increased its position in OUTFRONT Media by 435.6% in the second quarter. Smithfield Trust Co. now owns 5,742 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 4,670 shares during the period. Finally, Quantbot Technologies LP increased its position in OUTFRONT Media by 47.5% in the first quarter. Quantbot Technologies LP now owns 6,419 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 2,068 shares during the period.

OUT has been the subject of several recent research reports. ValuEngine raised OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Monday. Loop Capital reaffirmed a “buy” rating and issued a $28.00 target price (up previously from $27.00) on shares of OUTFRONT Media in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. BidaskClub cut shares of OUTFRONT Media from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Barrington Research reiterated an “outperform” rating and set a $26.00 price target (down previously from $29.00) on shares of OUTFRONT Media in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $29.86.

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Shares of OUTFRONT Media Inc. (NYSE:OUT) opened at 24.23 on Tuesday. The company has a market cap of $3.36 billion, a P/E ratio of 32.35 and a beta of 1.19. OUTFRONT Media Inc. has a 12-month low of $20.82 and a 12-month high of $27.89. The company has a 50-day moving average price of $22.16 and a 200-day moving average price of $23.51.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.94%. The ex-dividend date was Thursday, September 7th. OUTFRONT Media’s payout ratio is currently 189.48%.

OUTFRONT Media 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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Institutional Ownership by Quarter for OUTFRONT Media (NYSE:OUT)

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