15,084 Shares in Lamar Advertising (NASDAQ:LAMR) Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. bought a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,084 shares of the real estate investment trust's stock, valued at approximately $2,015,000.

Several other large investors have also added to or reduced their stakes in LAMR. Massachusetts Financial Services Co. MA grew its position in shares of Lamar Advertising by 81.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust's stock valued at $112,052,000 after purchasing an additional 420,311 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Lamar Advertising by 49,140.4% in the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust's stock valued at $38,090,000 after purchasing an additional 284,523 shares in the last quarter. Centersquare Investment Management LLC increased its position in Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust's stock worth $72,031,000 after purchasing an additional 281,582 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Lamar Advertising by 42,096.3% during the third quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust's stock valued at $16,856,000 after purchasing an additional 125,868 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Lamar Advertising by 6.0% during 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 during the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Trading Down 4.7 %

Shares of LAMR traded down $6.41 during trading hours on Friday, reaching $128.58. 1,099,082 shares of the company traded hands, compared to its average volume of 404,327. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 26.05 and a beta of 1.52. Lamar Advertising has a 12-month low of $91.20 and a 12-month high of $139.88. The stock's fifty day moving average price is $131.69 and its 200 day moving average price is $122.74. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $2.01 by ($0.67). The company had revenue of $565.25 million for the quarter, compared to analysts' expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $1.90 earnings per share. Sell-side analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. This is an increase from Lamar Advertising's previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising's payout ratio is presently 113.59%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LAMR shares. Citigroup cut shares of Lamar Advertising from a "buy" rating to a "neutral" rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. StockNews.com raised Lamar Advertising from a "hold" rating to a "buy" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. TD Cowen lifted their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company began coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They set an "equal weight" rating and a $132.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $125.00.

Lamar Advertising 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.