Wellington Management Group LLP Buys 617,356 Shares of Lamar Advertising (NASDAQ:LAMR)

Wellington Management Group LLP lifted its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 45.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,974,848 shares of the real estate investment trust's stock after acquiring an additional 617,356 shares during the quarter. Wellington Management Group LLP owned approximately 1.93% of Lamar Advertising worth $263,840,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in Lamar Advertising by 2.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust's stock worth $500,000 after purchasing an additional 80 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Lamar Advertising by 0.7% during the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust's stock worth $1,576,000 after buying an additional 82 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its holdings in Lamar Advertising by 6.6% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust's stock valued at $180,000 after buying an additional 84 shares during the period. CIBC Asset Management Inc grew its holdings in Lamar Advertising by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock worth $341,000 after acquiring an additional 85 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Lamar Advertising by 1.0% during the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust's stock valued at $1,329,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several recent research reports. StockNews.com lowered Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Morgan Stanley raised 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. Finally, Wells Fargo & Company lowered 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $132.40.

Lamar Advertising Trading Down 0.2 %

LAMR stock traded down $0.29 during midday trading on Friday, hitting $131.22. 281,515 shares of the company's stock were exchanged, 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 debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $13.43 billion, a PE ratio of 26.24 and a beta of 1.50. The stock's fifty day moving average price is $132.46 and its 200-day moving average price is $124.69.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.04 EPS. Research analysts predict that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.27%. Lamar Advertising's payout ratio is 112.00%.

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.