Geode Capital Management LLC Boosts Holdings in Lamar Advertising (NASDAQ:LAMR)

Geode Capital Management LLC increased its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,054,962 shares of the real estate investment trust's stock after acquiring an additional 90,775 shares during the quarter. Geode Capital Management LLC owned approximately 2.01% of Lamar Advertising worth $274,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LAMR. Janus Henderson Group PLC increased its position in shares of Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock valued at $567,632,000 after purchasing an additional 119,068 shares during the last quarter. State Street Corp raised its position in Lamar Advertising by 0.8% in the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock worth $352,752,000 after acquiring an additional 21,852 shares during the period. Wellington Management Group LLP boosted its stake 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 valued at $263,840,000 after acquiring an additional 617,356 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Lamar Advertising by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust's stock valued at $159,283,000 after acquiring an additional 75,955 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Lamar Advertising by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,093,096 shares of the real estate investment trust's stock worth $146,038,000 after purchasing an additional 39,845 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR traded up $0.04 during mid-day trading on Friday, hitting $129.00. The company had a trading volume of 311,307 shares, compared to its average volume of 408,648. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 25.80 and a beta of 1.50. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock's 50-day moving average price is $132.21 and its 200-day moving average price is $125.05. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88.

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

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.34%. Lamar Advertising's dividend payout ratio (DPR) is currently 112.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LAMR. StockNews.com downgraded Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. Morgan Stanley upped their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Wells Fargo & Company cut 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. Finally, TD Cowen boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $132.40.

About Lamar Advertising

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.