Holocene Advisors LP Invests $1.35 Million in Lamar Advertising (NASDAQ:LAMR)

Holocene Advisors LP bought a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,068 shares of the real estate investment trust's stock, valued at approximately $1,345,000.

A number of other hedge funds also recently made changes to their positions in LAMR. Blue Trust Inc. raised its position in Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in Lamar Advertising during the third quarter valued at approximately $25,000. Whittier Trust Co. raised its position in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 130 shares during the period. Concord Wealth Partners purchased a new stake in Lamar Advertising during the third quarter valued at approximately $26,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lamar Advertising during the second quarter valued at approximately $30,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Trading Down 0.2 %

NASDAQ:LAMR traded down $0.29 during midday trading on Friday, hitting $131.22. The stock had a trading volume of 281,515 shares, compared to its average volume of 499,003. Lamar Advertising has a one year low of $100.15 and a one year high of $139.88. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 26.24 and a beta of 1.50. The stock has a 50-day moving average of $132.46 and a 200 day moving average of $124.69. 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 earnings per share (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 firm had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. During the same period last year, the company earned $2.04 EPS. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.27%. Lamar Advertising's dividend payout ratio (DPR) is currently 112.00%.

Wall Street Analysts Forecast Growth

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

Lamar Advertising 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.