Profund Advisors LLC lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 9.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,805 shares of the real estate investment trust’s stock after selling 1,258 shares during the quarter. Profund Advisors LLC’s holdings in Lamar Advertising were worth $876,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of LAMR. Nationwide Fund Advisors increased its position in Lamar Advertising by 5.9% during the 3rd quarter. Nationwide Fund Advisors now owns 303,871 shares of the real estate investment trust’s stock worth $20,824,000 after purchasing an additional 16,993 shares in the last quarter. State of Tennessee Treasury Department increased its position in Lamar Advertising by 25.0% during the 3rd quarter. State of Tennessee Treasury Department now owns 50,000 shares of the real estate investment trust’s stock worth $3,427,000 after purchasing an additional 10,000 shares in the last quarter. Prudential Financial Inc. increased its position in Lamar Advertising by 6.3% during the 3rd quarter. Prudential Financial Inc. now owns 90,199 shares of the real estate investment trust’s stock worth $6,182,000 after purchasing an additional 5,370 shares in the last quarter. Swiss National Bank increased its position in Lamar Advertising by 1.2% during the 3rd quarter. Swiss National Bank now owns 139,638 shares of the real estate investment trust’s stock worth $9,569,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in Lamar Advertising during the 3rd quarter worth approximately $480,000. 84.45% of the stock is owned by hedge funds and other institutional investors.
LAMR has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Citigroup downgraded shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price for the company. in a research report on Wednesday, December 20th. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. BidaskClub cut Lamar Advertising from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, MKM Partners upped their price target on Lamar Advertising from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $73.25.
Lamar Advertising (NASDAQ:LAMR) opened at $66.48 on Friday. The firm has a market capitalization of $6,534.16, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 4.31 and a beta of 1.06. Lamar Advertising has a fifty-two week low of $62.45 and a fifty-two week high of $79.17. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.29 and a quick ratio of 1.29.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.37). The company had revenue of $398.50 million during the quarter, compared to analysts’ expectations of $395.71 million. Lamar Advertising had a return on equity of 29.41% and a net margin of 20.61%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. equities analysts forecast that Lamar Advertising will post 5.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 19th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend is Friday, March 16th. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.83. Lamar Advertising’s dividend payout ratio is currently 103.11%.
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About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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