Lamar Advertising (NASDAQ:LAMR) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP trimmed its position in Lamar Advertising (NASDAQ:LAMR) by 18.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,815 shares of the real estate investment trust’s stock after selling 655 shares during the period. Dark Forest Capital Management LP’s holdings in Lamar Advertising were worth $336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its holdings in shares of Lamar Advertising by 4.9% in the 4th quarter. Gilbert & Cook Inc. now owns 4,730 shares of the real estate investment trust’s stock valued at $503,000 after acquiring an additional 219 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Lamar Advertising during the fourth quarter worth $212,000. Franklin Resources Inc. lifted its position in shares of Lamar Advertising by 94.5% in the 4th quarter. Franklin Resources Inc. now owns 62,390 shares of the real estate investment trust’s stock worth $6,631,000 after buying an additional 30,311 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Lamar Advertising by 16.9% in the 4th quarter. Hsbc Holdings PLC now owns 38,544 shares of the real estate investment trust’s stock valued at $4,091,000 after buying an additional 5,571 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Lamar Advertising by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock valued at $846,000 after buying an additional 123 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $133.27 on Friday. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $137.40. The company has a market cap of $13.63 billion, a PE ratio of 27.37 and a beta of 1.52. The stock has a 50 day simple moving average of $122.94 and a 200-day simple moving average of $118.98. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. On average, equities research analysts forecast that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.20%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s payout ratio is 114.99%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target on the stock. TD Cowen boosted their price objective on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.00.

Lamar Advertising Company Profile

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.