Oddo BHF Asset Management Sas bought a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,072 shares of the real estate investment trust's stock, valued at approximately $3,216,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $25,000. Concord Wealth Partners bought a new stake in shares of Lamar Advertising during the 3rd quarter valued at about $26,000. Whittier Trust Co. grew its holdings in shares of Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 117 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Trading Up 0.0 %
Shares of NASDAQ:LAMR traded up $0.04 during midday trading on Friday, hitting $129.00. 311,307 shares of the stock traded hands, compared to its average volume of 408,648. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50. Lamar Advertising has a one year low of $100.15 and a one year high of $139.88. The business's 50 day moving average is $132.29 and its two-hundred day moving average is $124.94.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company had revenue of $564.10 million during the quarter, compared to analysts' expectations of $568.91 million. During the same period in the prior year, the business posted $2.04 earnings per share. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current year.
Lamar Advertising Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Wednesday, December 18th. Lamar Advertising's dividend payout ratio is presently 112.00%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Wells Fargo & Company dropped their price target on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. TD Cowen boosted their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, StockNews.com cut shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $132.40.
Check Out Our Latest Research Report on LAMR
Lamar Advertising Company Profile
(
Free Report)
Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.
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