2,416 Shares in Lamar Advertising (NASDAQ:LAMR) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new position in shares of Lamar Advertising (NASDAQ:LAMR) in the 3rd quarter, Holdings Channel reports. The fund acquired 2,416 shares of the real estate investment trust’s stock, valued at approximately $323,000.

Several other large investors have also made changes to their positions in the business. Wellington Management Group LLP increased its stake in Lamar Advertising by 45.5% during the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after acquiring an additional 617,356 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Lamar Advertising by 81.3% during 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 acquiring an additional 420,311 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Lamar Advertising in the 3rd quarter worth approximately $43,665,000. International Assets Investment Management LLC raised its stake in Lamar Advertising by 49,140.4% during the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after acquiring an additional 284,523 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Lamar Advertising by 148.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock worth $58,058,000 after purchasing an additional 259,979 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $128.49 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88. The company has a market cap of $13.15 billion, a PE ratio of 25.70 and a beta of 1.50. The company’s 50-day moving average is $132.08 and its two-hundred day moving average is $125.29.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be given a $1.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.36%. Lamar Advertising’s dividend payout ratio is 112.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LAMR shares. Morgan Stanley upped their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. TD Cowen upped their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $132.40.

About Lamar Advertising

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.