Asset Management One Co. Ltd. lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 42,096.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,167 shares of the real estate investment trust's stock after purchasing an additional 125,868 shares during the period. Asset Management One Co. Ltd. owned 0.12% of Lamar Advertising worth $16,856,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of LAMR. Centersquare Investment Management LLC boosted its holdings in Lamar Advertising by 82.8% in the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust's stock worth $72,031,000 after buying an additional 281,582 shares during the period. Boston Trust Walden Corp boosted its holdings in Lamar Advertising by 2.3% in the 2nd quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust's stock valued at $47,774,000 after purchasing an additional 8,857 shares during the period. Csenge Advisory Group bought a new position in Lamar Advertising in the 2nd quarter valued at $722,000. Natixis Advisors LLC boosted its holdings in Lamar Advertising by 13.1% in the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust's stock valued at $7,225,000 after purchasing an additional 6,979 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Lamar Advertising by 67.6% in the 1st quarter. BNP Paribas Financial Markets now owns 99,127 shares of the real estate investment trust's stock valued at $11,837,000 after purchasing an additional 39,990 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.
Lamar Advertising Trading Up 0.4 %
Shares of LAMR stock traded up $0.50 during mid-day trading on Wednesday, reaching $132.75. The stock had a trading volume of 367,607 shares, compared to its average volume of 398,481. The stock's 50-day moving average price is $131.29 and its two-hundred day moving average price is $122.59. Lamar Advertising has a 52-week low of $91.20 and a 52-week high of $139.88. The firm has a market capitalization of $13.58 billion, a PE ratio of 26.83 and a beta of 1.52. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Equities analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.22%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising's payout ratio is presently 113.59%.
Analysts Set New Price Targets
LAMR has been the subject of a number of research analyst reports. StockNews.com raised shares of Lamar Advertising from a "hold" rating to a "buy" rating in a report on Friday, October 18th. TD Cowen lifted their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They set an "equal weight" rating and a $132.00 price objective for the company. Citigroup downgraded shares of Lamar Advertising from a "buy" rating to a "neutral" rating and set a $122.00 price objective for the company. in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $125.00.
Check Out Our Latest Stock Analysis 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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