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$OUT
$31.30 +$0.00 (0.0%) After hours

Ownership

13F as of Q2 2026 · 176.1M shares outstanding

Who owns OUT?

By type of holder
Institutions 100.0% Insiders 0.0% Everyone else 0.0%
Concentration Top 10 holders own 62.0%
BlackRock, Inc. 15.0% · Cohen & Steers, Inc. 12.3%
Institutional ownership
100.0%
0 pts vs last qtr
Institutional holders
368
+32 vs last qtr
Net shares bought
+2.1M
by institutions in Q2 2026
New / sold out
70 / 38
positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026
  • BlackRock, Inc. +2.1M
  • Vanguard Portfolio Management LLC +1.1M

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Biggest sellers in Q2 2026
  • Providence Equity Partners L.L.C. −4.9M
  • FMR LLC −3.0M

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Who is planning to sell?

Notices of proposed sale, last 12 months
$125M
17 notices from 11 people
Shares covered
3.9M
2.20% of the company
Arranged in advance
4%
of the value is under a 10b5-1 plan
Under a 10b5-1 plan No plan
$0$59.7M$119.3MNov 2025: $959.6K under a 10b5-1 planNov 2025: $570.1K without a planNovDecJanFebMar 2026: $1.6M under a 10b5-1 planMarAprMay 2026: $119.3M without a planMayJun 2026: $1.1M under a 10b5-1 planJunJulAug 2026: $301.0K under a 10b5-1 planAugSep 2026: $100.9K without a planSepOct 2026: $693.8K under a 10b5-1 planOct
Largest proposed sellers
  • Pep Viii-A Aiv SPV, L.P. See remark (1) $44.6M
  • Pep Viii-A SPV, L.P. See remark (1) $44.5M

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Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2016–FY2025
+22.3%
+2.26% a year
Each share's claim on the business
−18.2%
shrank without buying or selling a share
Spent on buybacks vs paid in stock
— vs $256M
over 10 fiscal years
Diluted shares, split-adjusted
134.2M153.4M172.5M2016: 138.4M shares'162017: 138.9M shares'172018: 139.6M shares'182019: 143.2M shares'192020: 144.3M shares'202021: 146.1M shares'212022: 157.9M shares'222023: 161.0M shares'232024: 170.8M shares'242025: 169.2M shares'25
Buybacks Stock-based comp
$0$16.9M$33.8M2016 buybacks: $02016 stock comp: $18.0M'162017 buybacks: $02017 stock comp: $20.5M'172018 buybacks: $02018 stock comp: $20.2M'182019 buybacks: $02019 stock comp: $22.3M'192020 buybacks: $02020 stock comp: $23.8M'202021 buybacks: $02021 stock comp: $28.6M'212022 buybacks: $02022 stock comp: $33.8M'222023 buybacks: $02023 stock comp: $28.4M'232024 buybacks: $02024 stock comp: $30.8M'242025 buybacks: $02025 stock comp: $30.0M'25

How patient are the owners?

Institutional shares by how long they've been held
5+ years63% 3–5 years6% 1–3 years23% Under 1 year8%
Quarterly turnover
10.4%
of institutional shares changed hands
Top 10 managers, median time held
5 years

Super Investors

Investment managers reporting OUT on Form 13F
B
BlackRock, Inc.
Shares
26.3M
% of company
14.95%
Change vs last qtr
+2.1M (+8.5%)
Held since
≤2021
CS
Cohen & Steers, Inc.
Shares
21.6M
% of company
12.29%
Change vs last qtr
+119.4K (+0.6%)
Held since
2024

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Institutional Funds

Mutual funds and ETFs reporting OUT on Form N-PORT; together they hold 56.3% of the company
Position value
$302M
% of company
5.24%
% of the fund
0.27%
As of
June 30, 2026
CS
Cohen & Steers Real Estate Securities Fund Inc
Position value
$229M
% of company
3.97%
% of the fund
2.40%
As of
June 30, 2026

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Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G
PV
Pep Viii GP LLC
5%+ holder13D · 2.2%
Shares
3.9M
% of company
2.22%
Change vs last qtr
—
Held since
—
PE
Providence Equity GP VIII L.P.
5%+ holder13D · 2.2%
Shares
3.9M
% of company
2.22%
Change vs last qtr
—
Held since
—

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