Outfront Media Surges 40% in One Year, Then Gets Cut Loose Despite 'Exceptional Performance'
Key Points
GraniteShares sold 171,052 shares of Outfront Media; the estimated transaction size was $3.13 million based on quarterly average prices.
The transaction represented a 1.9% shift in 13F reportable assets under management (AUM).
The move marked a full exit from the holding.
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On January 20, GraniteShares Advisors disclosed in an SEC filing that it sold out of Outfront Media (NYSE:OUT), liquidating 171,052 shares in a transaction estimated at $3.13 million.
What happened
According to a January 20 SEC filing, GraniteShares Advisors reported selling all 171,052 shares of Outfront Media during the fourth quarter. The fund's reported position in the stock fell to zero by quarter-end, with the net position change also totaling $3.13 million.
What else to know
Top holdings after the filing:
- NASDAQ:MSFT: $5.59 million (3.4% of AUM)
- NASDAQ:GOOGL: $4.25 million (2.6% of AUM)
- NASDAQ:META: $3.80 million (2.3% of AUM)
- NYSE:LLY: $3.08 million (1.9% of AUM)
- NYSE:UAN: $2.88 million (1.7% of AUM)
As of January 20, shares of Outfront Media were priced at $24.61, up 40.1% over the past year and far outperforming the S&P 500’s roughly 14% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.81 billion |
| Net income (TTM) | $124.20 million |
| Dividend yield | 4.8% |
| Price (as of January 20) | $24.61 |
Company snapshot
- Outfront Media provides billboard, transit, and mobile advertising assets across North America, generating revenue primarily through outdoor advertising services.
- The company operates a real estate investment trust (REIT) model, leasing advertising space to brands and agencies seeking to reach consumers in high-traffic locations.
- It serves national and local advertisers targeting urban and commuter audiences seeking broad, out-of-home brand exposure.
Outfront Media is a leading North American out-of-home advertising company with a diverse portfolio of billboard and transit assets. The company leverages technology and strategic locations to deliver impactful advertising solutions for brands. Its scale and integrated platform provide a competitive advantage in connecting advertisers with mobile consumers.
What this transaction means for investors
With Outfront Media now out of GraniteShares’ reported holdings, the sale frees up capital inside a portfolio dominated by mega-cap growth names like Microsoft, Alphabet, and Meta. Compared with those positions, Outfront had become a tactical exposure rather than a core holding.
That timing is notable because fundamentals have been moving the other way. In the third quarter, Outfront reported revenue of $467.5 million, up 3.5% year over year, while adjusted OIBDA climbed 17% to $137.2 million. Transit advertising was the standout, with segment revenue up nearly 24%, driven by an “exceptional performance” in New York City.
The stock’s 40% rally over the past year suggests much of that recovery is already priced in. For a fund that emphasizes liquidity and scale, reallocating toward larger, faster-growing holdings may simply offer a cleaner risk profile.
Ultimately, this move doesn’t signal that Outfront’s business is weakening. Instead, this looks like a rotation away from a cyclical, cash-generative REIT after a sharp rebound. Those still holding should focus less on near-term price moves and more on whether transit growth and steady cash flow can persist through the next cycle.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Meta Platforms, and Microsoft. The Motley Fool recommends Outfront Media and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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