25,630 Shares in Lamar Advertising (NASDAQ:LAMR) Purchased by Hourglass Capital LLC

Hourglass Capital LLC bought a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 25,630 shares of the real estate investment trust's stock, valued at approximately $3,424,000.

Other institutional investors have also modified their holdings of the company. Centersquare Investment Management LLC increased its stake in Lamar Advertising by 82.8% during the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust's stock valued at $72,031,000 after purchasing an additional 281,582 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Lamar Advertising by 2.3% in the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust's stock worth $47,774,000 after acquiring an additional 8,857 shares during the last quarter. Csenge Advisory Group acquired a new position in Lamar Advertising in the second quarter valued at approximately $722,000. Natixis Advisors LLC grew its holdings in shares of Lamar Advertising by 13.1% during the second 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 last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Lamar Advertising by 179.4% during the 2nd quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust's stock worth $2,226,000 after purchasing an additional 11,967 shares during the period. Institutional investors and hedge funds own 93.78% of the company's stock.

Wall Street Analyst Weigh In

LAMR has been the subject of a number of recent research reports. StockNews.com downgraded Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Wells Fargo & Company dropped 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. Finally, TD Cowen lifted their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $132.40.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock traded down $0.69 on Thursday, hitting $127.56. The company had a trading volume of 142,309 shares, compared to its average volume of 406,686. Lamar Advertising has a 52 week low of $95.81 and a 52 week high of $139.88. The company has a market cap of $13.05 billion, a PE ratio of 25.57 and a beta of 1.52. The business has a 50-day simple moving average of $131.98 and a 200-day simple moving average of $123.22. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results 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 net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same quarter last year, the business posted $2.04 earnings per share. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This is a boost from Lamar Advertising's previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.39%. Lamar Advertising's payout ratio is 112.00%.

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.