Vestcor Inc increased its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 680.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,416 shares of the real estate investment trust's stock after acquiring an additional 44,829 shares during the period. Vestcor Inc owned about 0.05% of Lamar Advertising worth $6,869,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Lamar Advertising by 2.9% during the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock worth $567,632,000 after purchasing an additional 119,068 shares during the period. State Street Corp raised its stake in Lamar Advertising by 0.8% during 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 buying an additional 21,852 shares during the last quarter. Wellington Management Group LLP increased 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 purchasing an additional 617,356 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Lamar Advertising by 6.0% in the second 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 purchasing an additional 75,955 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Lamar Advertising by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,093,096 shares of the real estate investment trust's stock valued at $146,038,000 after purchasing an additional 39,845 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Performance
LAMR traded down $2.18 during midday trading on Tuesday, reaching $129.42. The company had a trading volume of 370,501 shares, compared to its average volume of 408,840. 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 stock has a market cap of $13.25 billion, a PE ratio of 25.88 and a beta of 1.50. Lamar Advertising has a 12-month low of $100.15 and a 12-month high of $139.88. The business has a 50-day moving average price of $132.37 and a two-hundred day moving average price of $124.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted 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 business 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 firm earned $2.04 EPS. The business's revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Wednesday, December 18th. Lamar Advertising's dividend payout ratio (DPR) is currently 112.00%.
Analyst Upgrades and Downgrades
LAMR has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. TD Cowen boosted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Finally, StockNews.com cut shares of Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Lamar Advertising presently has a consensus rating of "Hold" and a consensus price target of $132.40.
Get Our Latest Research Report on Lamar Advertising
Lamar Advertising 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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