ExodusPoint Capital Management LP Acquires 119,968 Shares of Lamar Advertising (NASDAQ:LAMR)

ExodusPoint Capital Management LP grew its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 180.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,364 shares of the real estate investment trust's stock after purchasing an additional 119,968 shares during the period. ExodusPoint Capital Management LP owned about 0.18% of Lamar Advertising worth $22,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust's stock worth $263,840,000 after purchasing an additional 617,356 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock worth $110,220,000 after buying an additional 470,805 shares during the last quarter. Norges Bank acquired a new stake in shares of Lamar Advertising during the fourth quarter worth approximately $57,255,000. Raymond James Financial Inc. bought a new stake in Lamar Advertising during the 4th quarter worth approximately $48,023,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in Lamar Advertising by 631.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust's stock valued at $24,088,000 after purchasing an additional 155,656 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAMR. JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Citigroup lifted their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $134.60.

Lamar Advertising Stock Up 1.3 %

Shares of NASDAQ:LAMR traded up $1.32 during midday trading on Tuesday, hitting $106.20. The stock had a trading volume of 301,904 shares, compared to its average volume of 463,233. 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 business's 50-day simple moving average is $120.40 and its 200-day simple moving average is $126.13. Lamar Advertising has a 12 month low of $100.00 and a 12 month high of $139.88. The company has a market cap of $10.87 billion, a P/E ratio of 30.15 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $579.57 million during the quarter, compared to analysts' expectations of $583.19 million. On average, sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 5.84%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is 175.64%.

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.