JPMorgan Chase & Co. grew its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,082 shares of the real estate investment trust’s stock after purchasing an additional 2,302 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.19% of Lamar Advertising worth $14,476,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Gilman Hill Asset Management LLC grew its holdings in shares of Lamar Advertising by 3.7% during the third quarter. Gilman Hill Asset Management LLC now owns 68,054 shares of the real estate investment trust’s stock worth $5,295,000 after buying an additional 2,427 shares during the last quarter. Waratah Capital Advisors Ltd. grew its holdings in shares of Lamar Advertising by 45.1% during the third quarter. Waratah Capital Advisors Ltd. now owns 429,914 shares of the real estate investment trust’s stock worth $33,447,000 after buying an additional 133,621 shares during the last quarter. FMR LLC grew its holdings in shares of Lamar Advertising by 87.2% during the second quarter. FMR LLC now owns 588,216 shares of the real estate investment trust’s stock worth $40,181,000 after buying an additional 274,070 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Lamar Advertising by 6.1% during the third quarter. Janney Montgomery Scott LLC now owns 45,571 shares of the real estate investment trust’s stock worth $3,545,000 after buying an additional 2,630 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Lamar Advertising by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 2,303,819 shares of the real estate investment trust’s stock worth $157,374,000 after buying an additional 165,182 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors.
In other Lamar Advertising news, CFO Keith A. Istre sold 20,791 shares of Lamar Advertising stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $76.64, for a total value of $1,593,422.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.64% of the stock is currently owned by insiders.
A number of research firms recently issued reports on LAMR. Zacks Investment Research lowered Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, October 15th. Imperial Capital began coverage on Lamar Advertising in a report on Thursday, September 13th. They set an “outperform” rating and a $93.00 price target on the stock. Morgan Stanley raised their price target on Lamar Advertising from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Finally, Citigroup raised their price target on Lamar Advertising from $68.00 to $69.00 and gave the stock a “sell” rating in a report on Wednesday, August 15th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Lamar Advertising has a consensus rating of “Hold” and an average price target of $78.17.
Shares of LAMR opened at $73.43 on Friday. Lamar Advertising Co has a twelve month low of $61.36 and a twelve month high of $80.68. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 14.11 and a beta of 1.11. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.43 and a current ratio of 1.43.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, November 8th. The real estate investment trust reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.44). Lamar Advertising had a net margin of 18.57% and a return on equity of 27.51%. The business had revenue of $418.50 million during the quarter, compared to analysts’ expectations of $421.29 million. During the same period in the prior year, the firm posted $0.98 EPS. Lamar Advertising’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts expect that Lamar Advertising Co will post 5.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 17th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Friday, December 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.91. Lamar Advertising’s payout ratio is currently 72.08%.
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Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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