OUTFRONT Media Inc. (NYSE:OUT) traded today at a new 52-week high of $29.36. Approximately 214,000 shares have changed hands today, as compared to an average 30-day volume of 1.7 million shares.
Based on a current price of $29.00, OUTFRONT Media Inc. is currently 1.1% above its average consensus analyst price target of $28.69.
Over the past year, OUTFRONT Media Inc. has traded in a range of $20.76 to $29.36 and is now at $29.00, 40% above that low.
Outfront Media Inc is a real estate investment trust involved in the ownership of advertising space on its portfolio of billboards and transit displays. The firm generates revenue in the form of rental income by allowing other companies to advertise on its properties and structures under short-term contracts. Outfront Media segments its operations into the United States and International units. Although it also owns assets in Canada and Latin America, the company derives the vast majority of its revenue from billboard advertising agreements in the U.S. Roughly half of the U.S division’s revenue comes from its displays in the New York City and Los Angeles markets. Outfront Media’s major customers include entities within the retail, television, healthcare, and entertainment industries.
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