JPMorgan Chase & Co. increased its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,497,702 shares of the real estate investment trust's stock after acquiring an additional 90,933 shares during the quarter. JPMorgan Chase & Co. owned about 1.46% of Lamar Advertising worth $200,093,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LAMR. Oddo BHF Asset Management Sas purchased a new stake in Lamar Advertising in the third quarter valued at about $3,216,000. Franklin Resources Inc. raised its position in shares of Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust's stock valued at $7,017,000 after purchasing an additional 14,672 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Lamar Advertising in the 3rd quarter worth approximately $323,000. Sanctuary Advisors LLC grew its position in Lamar Advertising by 23.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 19,177 shares of the real estate investment trust's stock worth $2,500,000 after purchasing an additional 3,609 shares during the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in Lamar Advertising by 6.7% during the 3rd quarter. Arete Wealth Advisors LLC now owns 3,462 shares of the real estate investment trust's stock valued at $460,000 after purchasing an additional 217 shares in 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 $0.37 during trading on Tuesday, reaching $121.74. 389,493 shares of the company traded hands, compared to its average volume of 414,613. Lamar Advertising has a 12-month low of $100.15 and a 12-month high of $139.88. 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 has a market cap of $12.46 billion, a P/E ratio of 24.35 and a beta of 1.50. The firm's fifty day simple moving average is $129.55 and its 200 day simple moving average is $125.70.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company's revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 earnings per share. As a group, research analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.60%. Lamar Advertising's payout ratio is 112.00%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on LAMR shares. StockNews.com downgraded shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. TD Cowen lifted their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company cut their price objective 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. Finally, Morgan Stanley lifted their target price 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $132.40.
Check Out Our Latest Stock Report on LAMR
Lamar Advertising Company Profile
(
Free Report)
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.
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