Lamar Advertising (NASDAQ:LAMR) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 18,413 shares of the real estate investment trust’s stock after purchasing an additional 1,596 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lamar Advertising were worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising in the 3rd quarter valued at $25,000. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising in the 3rd quarter valued at $26,000. Assetmark Inc. increased its stake in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LAMR shares. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price objective 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. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $128.18 on Tuesday. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 25.64 and a beta of 1.51. The stock has a 50-day moving average of $125.24 and a 200 day moving average of $126.83. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a twelve month low of $102.10 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter last year, the business earned $2.04 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Wednesday, December 18th. 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.