Lamar Advertising (NASDAQ:LAMR) Shares Sold by Invst LLC

Invst LLC cut its holdings in Lamar Advertising (NASDAQ:LAMR) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 6,053 shares of the real estate investment trust’s stock after selling 91 shares during the period. Invst LLC’s holdings in Lamar Advertising were worth $809,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Lamar Advertising by 2.9% in the third 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 purchasing an additional 119,068 shares during the period. State Street Corp increased its position in shares of Lamar Advertising by 0.8% during the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock worth $352,752,000 after purchasing an additional 21,852 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lamar Advertising by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock valued at $274,595,000 after buying an additional 90,775 shares during the period. Wellington Management Group LLP lifted its position in Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after buying an additional 617,356 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Lamar Advertising by 6.0% in 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 buying an additional 75,955 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Morgan Stanley raised their price target on 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 boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $129.42 on Wednesday. The stock’s 50-day simple moving average is $132.37 and its 200-day simple moving average is $124.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $13.25 billion, a PE ratio of 25.88 and a beta of 1.50. Lamar Advertising has a fifty-two week low of $100.15 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the previous year, the company posted $2.04 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be issued 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 dividend yield of 4.33%. Lamar Advertising’s payout ratio is 112.00%.

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.