Lamar Advertising (NASDAQ:LAMR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC cut its stake in Lamar Advertising (NASDAQ:LAMR) by 21.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,907 shares of the real estate investment trust’s stock after selling 26,857 shares during the quarter. AQR Capital Management LLC owned approximately 0.10% of Lamar Advertising worth $11,813,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LAMR. Vanguard Group Inc. grew its position in shares of 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 valued at $1,517,554,000 after acquiring an additional 68,484 shares during the period. DAVENPORT & Co LLC grew its holdings in Lamar Advertising by 0.4% in the first quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock valued at $210,889,000 after purchasing an additional 7,794 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 in the last quarter. Wellington Management Group LLP acquired a new position in shares of Lamar Advertising during the 4th quarter worth approximately $111,255,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Lamar Advertising by 81.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after buying an additional 420,311 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 1.4 %

Shares of NASDAQ LAMR opened at $131.79 on Wednesday. The stock has a market cap of $13.47 billion, a PE ratio of 27.06 and a beta of 1.52. 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 has a 12-month low of $77.21 and a 12-month high of $137.40. The company has a 50-day moving average of $123.18 and a 200 day moving average of $119.13.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same period in the prior year, the business posted $1.90 EPS. Lamar Advertising’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 114.99%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price target 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. TD Cowen upped their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Company started coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price objective for the company. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.00.

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.