Quest Partners LLC Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Quest Partners LLC bought a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,485 shares of the real estate investment trust's stock, valued at approximately $2,603,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sei Investments Co. increased its holdings in shares of Lamar Advertising by 31.2% in the first quarter. Sei Investments Co. now owns 16,085 shares of the real estate investment trust's stock valued at $1,921,000 after buying an additional 3,829 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Lamar Advertising by 4.0% during the first quarter. Blair William & Co. IL now owns 4,897 shares of the real estate investment trust's stock valued at $585,000 after purchasing an additional 190 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Lamar Advertising by 1.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,205 shares of the real estate investment trust's stock valued at $3,390,000 after purchasing an additional 549 shares during the period. Vanguard Group Inc. increased its stake in Lamar Advertising by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust's stock worth $1,517,554,000 after purchasing an additional 68,484 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Lamar Advertising by 18.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,301 shares of the real estate investment trust's stock worth $394,000 after purchasing an additional 522 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Up 1.0 %

Shares of NASDAQ LAMR traded up $1.23 during mid-day trading on Monday, reaching $127.58. The company had a trading volume of 755,130 shares, compared to its average volume of 410,500. The stock has a market capitalization of $13.05 billion, a PE ratio of 25.27 and a beta of 1.52. Lamar Advertising has a twelve month low of $97.21 and a twelve month high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. The stock's 50 day moving average is $132.11 and its 200-day moving average is $123.42.

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 for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million for the quarter, compared to analysts' expectations of $568.91 million. During the same period last year, the business earned $2.04 earnings per share. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm 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. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising's previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.39%. Lamar Advertising's dividend payout ratio is currently 112.00%.

Analyst Ratings Changes

LAMR has been the subject of several recent analyst reports. StockNews.com cut shares of Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Wells Fargo & Company decreased their target price 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. Finally, TD Cowen upped their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $132.40.

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.