Duff & Phelps Investment Management Co. Purchases 155,656 Shares of Lamar Advertising (NASDAQ:LAMR)

Duff & Phelps Investment Management Co. raised its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 631.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 180,296 shares of the real estate investment trust's stock after acquiring an additional 155,656 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.18% of Lamar Advertising worth $24,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its stake in shares of Lamar Advertising by 2.2% during the third quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust's stock worth $500,000 after purchasing an additional 80 shares during the period. Private Advisor Group LLC raised its holdings in Lamar Advertising by 0.7% in the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust's stock worth $1,576,000 after purchasing an additional 82 shares during the period. Jamison Private Wealth Management Inc. boosted its position in shares of Lamar Advertising by 6.6% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust's stock worth $180,000 after purchasing an additional 84 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Lamar Advertising by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock valued at $341,000 after buying an additional 85 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Lamar Advertising by 1.0% during the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust's stock worth $1,329,000 after buying an additional 97 shares during the period. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Up 0.3 %

Shares of NASDAQ:LAMR traded up $0.38 during midday trading on Monday, hitting $131.60. The stock had a trading volume of 355,936 shares, compared to its average volume of 409,001. The company has a market cap of $13.47 billion, a P/E ratio of 26.24 and a beta of 1.50. Lamar Advertising has a 12 month low of $100.15 and a 12 month high of $139.88. The business's 50-day simple moving average is $132.46 and its 200-day simple moving average is $124.72. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business's revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $2.04 EPS. On average, sell-side analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.26%. Lamar Advertising's payout ratio is 112.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com downgraded Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. TD Cowen lifted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $132.40.

Lamar Advertising Company Profile

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.