Short Interest in Lamar Advertising (NASDAQ:LAMR) Grows By 19.5%

Lamar Advertising (NASDAQ:LAMR - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,680,000 shares, a growth of 19.5% from the February 28th total of 3,080,000 shares. Based on an average daily volume of 586,600 shares, the short-interest ratio is currently 6.3 days. Approximately 4.2% of the company's shares are sold short.

Lamar Advertising Stock Down 0.7 %

Lamar Advertising stock traded down $0.69 during midday trading on Monday, reaching $104.34. The stock had a trading volume of 602,955 shares, compared to its average volume of 459,614. The company has a fifty day moving average price of $120.86 and a two-hundred day moving average price of $126.32. Lamar Advertising has a 12 month low of $100.03 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 company has a market capitalization of $10.68 billion, a P/E ratio of 29.38 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, equities analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.

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Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.55 dividend. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.94%. Lamar Advertising's dividend payout ratio is presently 175.64%.

Institutional Trading of Lamar Advertising

Several hedge funds have recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Lamar Advertising during the fourth quarter worth about $25,000. Bessemer Group Inc. raised its stake in shares of Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 143 shares during the period. Blue Trust Inc. lifted its holdings in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 84 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup upped their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and an average price target of $134.60.

About Lamar Advertising

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.