State Street Corp Buys 21,852 Shares of Lamar Advertising (NASDAQ:LAMR)

State Street Corp lifted its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,640,356 shares of the real estate investment trust's stock after acquiring an additional 21,852 shares during the quarter. State Street Corp owned approximately 2.58% of Lamar Advertising worth $352,752,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Quantinno Capital Management LP lifted its position in shares of Lamar Advertising by 103.1% in the 3rd quarter. Quantinno Capital Management LP now owns 35,250 shares of the real estate investment trust's stock valued at $4,709,000 after acquiring an additional 17,897 shares in the last quarter. Redwood Investment Management LLC lifted its position in shares of Lamar Advertising by 4.1% in the 3rd quarter. Redwood Investment Management LLC now owns 12,168 shares of the real estate investment trust's stock valued at $1,622,000 after acquiring an additional 480 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in shares of Lamar Advertising in the 3rd quarter valued at approximately $286,000. Janus Henderson Group PLC lifted its position in shares of Lamar Advertising by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock valued at $567,632,000 after acquiring an additional 119,068 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Lamar Advertising by 5.0% in the 3rd quarter. HighTower Advisors LLC now owns 626,950 shares of the real estate investment trust's stock valued at $83,708,000 after acquiring an additional 29,683 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Down 1.7 %

Shares of LAMR traded down $2.18 during mid-day trading on Tuesday, hitting $129.42. 370,492 shares of the company's stock were exchanged, compared to its average volume of 408,839. The firm has a fifty day moving average of $132.42 and a two-hundred day moving average of $124.81. Lamar Advertising has a twelve month low of $100.15 and a twelve month high of $139.88. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 26.32 and a beta of 1.50. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same quarter last year, the company earned $2.04 EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.33%. Lamar Advertising's payout ratio is presently 112.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of 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. StockNews.com downgraded shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Finally, TD Cowen increased their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $132.40.

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.