Ameriprise Financial Inc. increased its position in Lamar Advertising (NASDAQ:LAMR) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432,844 shares of the real estate investment trust’s stock after buying an additional 4,422 shares during the period. Ameriprise Financial Inc. owned 0.44% of Lamar Advertising worth $29,662,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services Inc lifted its position in Lamar Advertising by 11.7% in the 3rd quarter. Commonwealth Equity Services Inc now owns 10,479 shares of the real estate investment trust’s stock valued at $718,000 after acquiring an additional 1,099 shares in the last quarter. Timber Hill LLC bought a new position in shares of Lamar Advertising during the 3rd quarter worth approximately $227,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Lamar Advertising by 4.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 474,256 shares of the real estate investment trust’s stock worth $32,501,000 after buying an additional 20,246 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Lamar Advertising by 5.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 28,183 shares of the real estate investment trust’s stock worth $1,931,000 after buying an additional 1,331 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Lamar Advertising by 12.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 39,027 shares of the real estate investment trust’s stock worth $2,675,000 after buying an additional 4,243 shares in the last quarter. Institutional investors own 84.42% of the company’s stock.
Shares of Lamar Advertising (LAMR) opened at $76.41 on Wednesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55. Lamar Advertising has a one year low of $62.45 and a one year high of $79.09. The stock has a market cap of $7,494.54, a P/E ratio of 15.26, a PEG ratio of 5.25 and a beta of 1.16.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The company had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $392.10 million. During the same quarter in the previous year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. research analysts expect that Lamar Advertising will post 4.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, December 15th. This represents a $3.32 annualized dividend and a dividend yield of 4.34%. Lamar Advertising’s payout ratio is currently 105.40%.
Several equities analysts have commented on the stock. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. MKM Partners dropped their target price on shares of Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Citigroup reissued a “neutral” rating and set a $66.00 target price (down previously from $69.00) on shares of Lamar Advertising in a research report on Friday, August 11th. BidaskClub cut shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Morgan Stanley dropped their target price on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $73.00.
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Lamar Advertising Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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