Quarry LP Buys 774 Shares of Lamar Advertising (NASDAQ:LAMR)

Quarry LP increased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 178.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,207 shares of the real estate investment trust’s stock after acquiring an additional 774 shares during the quarter. Quarry LP’s holdings in Lamar Advertising were worth $144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after acquiring an additional 68,484 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in Lamar Advertising by 0.4% in the 1st quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock worth $210,889,000 after buying an additional 7,794 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Lamar Advertising by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares during the period. Wellington Management Group LLP purchased a new stake in Lamar Advertising in the 4th quarter worth approximately $111,255,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Lamar Advertising by 81.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after buying an additional 420,311 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on LAMR. JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. TD Cowen increased their price objective on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company started coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective for the company. Finally, Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Stock Up 0.2 %

Shares of NASDAQ:LAMR opened at $133.60 on Tuesday. The stock has a fifty day simple moving average of $122.94 and a two-hundred day simple moving average of $119.01. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 27.43 and a beta of 1.52. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $137.40. 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 announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The company had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 EPS. On average, research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.19%. Lamar Advertising’s dividend payout ratio (DPR) is presently 114.99%.

Lamar Advertising 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.