OUTFRONT Media Inc. received a Schedule 13G/A showing that Cohen & Steers and related affiliates report beneficial ownership of common stock equal to 22,391,724 shares, representing 13.39% of the class as of the filing. The filing breaks ownership across entities: Cohen & Steers, Inc. reports 22,391,724 shares (sole dispositive power) and 18,615,987 shares with sole voting power; Cohen & Steers Capital Management, Inc. reports 22,238,668 shares (sole dispositive power) and 18,550,978 shares with sole voting power; smaller amounts are held by UK and Ireland affiliates and none by the Asia affiliate. The filers state the shares are held in the ordinary course of business for account holders and not for the purpose of changing control.
Clear voting/dispositive reporting: majority of shares reported with sole voting and dispositive power
Negative
Concentration risk: a single investment firm group holds a sizable 13.39% position that could move with portfolio rebalancing
Limited detail on account-level ownership: statement indicates shares held for account holders, obscuring which underlying investors hold >5% exposures
Insights
Large passive stake disclosed: 13.39% held across Cohen & Steers entities.
The filing documents an aggregate beneficial ownership of 22,391,724 shares, equal to 13.39% of the outstanding common stock. Most shares are reported with sole dispositive power and substantial sole voting power, indicating centralized portfolio control within the firm.
Risks and dependencies include potential concentration effects if positions are adjusted and the fact that the holders assert these shares are held in the ordinary course of business and not to change control. Watch for future amendments or Schedule 13D filings if acquisition intent changes within the next several weeks to months.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
OUTFRONT Media Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
69007J304
(CUSIP Number)
09/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
69007J304
1
Names of Reporting Persons
Cohen & Steers, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
18,615,987.00
6
Shared Voting Power
7
Sole Dispositive Power
22,391,724.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,391,724.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
13.39 %
12
Type of Reporting Person (See Instructions)
CO, HC
SCHEDULE 13G
CUSIP No.
69007J304
1
Names of Reporting Persons
Cohen & Steers Capital Management, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
NEW YORK
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
18,550,978.00
6
Shared Voting Power
7
Sole Dispositive Power
22,238,668.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,238,668.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
13.30 %
12
Type of Reporting Person (See Instructions)
CO, IA
SCHEDULE 13G
CUSIP No.
69007J304
1
Names of Reporting Persons
Cohen & Steers UK Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
49,989.00
6
Shared Voting Power
7
Sole Dispositive Power
138,036.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
138,036.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.08 %
12
Type of Reporting Person (See Instructions)
CO, IA
SCHEDULE 13G
CUSIP No.
69007J304
1
Names of Reporting Persons
Cohen & Steers Asia Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
HONG KONG
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.00 %
12
Type of Reporting Person (See Instructions)
CO, IA
SCHEDULE 13G
CUSIP No.
69007J304
1
Names of Reporting Persons
Cohen & Steers Ireland Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
IRELAND
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
15,020.00
6
Shared Voting Power
7
Sole Dispositive Power
15,020.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
15,020.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.01 %
12
Type of Reporting Person (See Instructions)
CO, FI
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
OUTFRONT Media Inc.
(b)
Address of issuer's principal executive offices:
90 Park Avenue, 9th Floor, New York, NY 10016
Item 2.
(a)
Name of person filing:
Cohen & Steers, Inc.
Cohen & Steers Capital Management, Inc.
Cohen & Steers UK Limited
Cohen & Steers Asia Limited
Cohen & Steers Ireland Limited
(b)
Address or principal business office or, if none, residence:
The principal address for Cohen & Steers, Inc.
and Cohen & Steers Capital Management, Inc. is:
1166 Avenue of the Americas, 30th Floor
New York, NY 10036
The principal address for Cohen & Steers UK Limited. is:
The Burlian, 2nd Floor
3 Dering Street, London W1S 1AA
United Kingdom
The principal address for Cohen & Steers Asia Limited. is:
3301B, 33rd Floor, The Henderson
2 Murray Road
Central, Hong Kong
The principal address for Cohen & Steers Ireland Limited. is:
Suite G01
81 Merrion Square South
Dublin 2
D02 NR12
Ireland
(c)
Citizenship:
Cohen & Steers, Inc: Delaware corporation
Cohen & Steers Capital Management, Inc: New York corporation
Cohen & Steers UK Limited: United Kingdom Private Limited Company
Cohen & Steers Asia Limited: Asia Private Limited Company
Cohen & Steers Ireland Limited: Ireland Private Limited Company
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
69007J304
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Corporation
Item 4.
Ownership
(a)
Amount beneficially owned:
22,391,724
(b)
Percent of class:
13.39 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
18,615,987
(ii) Shared power to vote or to direct the vote:
(iii) Sole power to dispose or to direct the disposition of:
22,391,724
(iv) Shared power to dispose or to direct the disposition of:
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Each of Cohen & Steers Capital Management, Inc., Cohen & Steers UK Limited., Cohen & Steers Asia Limited. and Cohen & Steers Ireland Limited. holds the securities of the Issuer to which this statement relates for the benefit of their respective account holders. Such account holders have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the securities of the Issuer that are held on their behalf.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Cohen & Steers, Inc. holds a 100% interest in Cohen & Steers Capital Management, Inc., Cohen & Steers UK Limited., Cohen & Steers Asia Limited. (investment advisors registered under Section 203 of the Investment Advisers Act) and Cohen & Steers Ireland Limited. (a non-US institution).
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Cohen & Steers, Inc.
Signature:
/s/ Nargis Hilal
Name/Title:
SVP, Global Chief Compliance Officer & Associate General Counsel
Date:
10/07/2025
Cohen & Steers Capital Management, Inc.
Signature:
/s/ Nargis Hilal
Name/Title:
SVP, Global Chief Compliance Officer & Associate General Counsel
Date:
10/07/2025
Cohen & Steers UK Limited
Signature:
/s/ Nargis Hilal
Name/Title:
SVP, Global Chief Compliance Officer & Associate General Counsel
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