Principal Financial Group Inc. reduced its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 30.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,751 shares of the real estate investment trust's stock after selling 88,924 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of Lamar Advertising worth $27,221,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in LAMR. Blue Trust Inc. lifted its stake in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock worth $25,000 after buying an additional 151 shares in the last quarter. Brooklyn Investment Group purchased a new position in Lamar Advertising in the 3rd quarter worth approximately $25,000. Concord Wealth Partners bought a new position in Lamar Advertising in the 3rd quarter valued at approximately $26,000. Whittier Trust Co. boosted its stake in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 117 shares in the last quarter. 93.78% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
LAMR has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. TD Cowen lifted their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $132.40.
Get Our Latest Analysis on LAMR
Lamar Advertising Price Performance
Shares of LAMR traded down $0.06 during trading hours on Wednesday, reaching $123.44. 274,872 shares of the stock traded hands, compared to its average volume of 401,301. The company has a market cap of $12.64 billion, a P/E ratio of 24.69 and a beta of 1.50. 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's 50-day moving average price is $130.94 and its two-hundred day moving average price is $125.49. Lamar Advertising has a 52-week low of $100.15 and a 52-week high of $139.88.
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 EPS for the quarter, missing analysts' consensus estimates 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%. Lamar Advertising's revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 earnings per share. On average, analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current year.
Lamar Advertising Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Wednesday, December 18th. Lamar Advertising's dividend payout ratio (DPR) is presently 112.00%.
About Lamar Advertising
(
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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