3,315 Shares in Lamar Advertising (NASDAQ:LAMR) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in Lamar Advertising (NASDAQ:LAMR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,315 shares of the real estate investment trust’s stock, valued at approximately $443,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Lamar Advertising by 81.3% in the second 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 purchasing an additional 420,311 shares during the period. Los Angeles Capital Management LLC acquired a new position in Lamar Advertising during the third quarter worth $43,665,000. International Assets Investment Management LLC grew its holdings in Lamar Advertising by 49,140.4% in the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after purchasing an additional 284,523 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Lamar Advertising by 42,096.3% in the third quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust’s stock valued at $16,856,000 after purchasing an additional 125,868 shares during the last quarter. Finally, Easterly Investment Partners LLC acquired a new stake in Lamar Advertising in the third quarter valued at $12,240,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $127.54 on Thursday. Lamar Advertising has a fifty-two week low of $97.21 and a fifty-two week high of $139.88. The business has a 50 day moving average price of $132.30 and a two-hundred day moving average price of $123.57. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market cap of $13.05 billion, a PE ratio of 25.51 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share 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 analyst estimates of $568.91 million. During the same quarter last year, the business earned $2.04 EPS. Lamar Advertising’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on LAMR shares. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lowered their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Lamar Advertising currently has an average rating of “Hold” and an average price target of $132.40.

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.