Paloma Partners Management Co bought a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 259,282 shares of the real estate investment trust’s stock, valued at approximately $19,249,000. Lamar Advertising makes up 0.3% of Paloma Partners Management Co’s portfolio, making the stock its 26th largest position. Paloma Partners Management Co owned 0.26% of Lamar Advertising at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Lamar Advertising by 2,271.1% in the second quarter. Dimensional Fund Advisors LP now owns 216,318 shares of the real estate investment trust’s stock worth $15,914,000 after purchasing an additional 207,195 shares during the period. Nationwide Fund Advisors increased its holdings in shares of Lamar Advertising by 5.9% in the third quarter. Nationwide Fund Advisors now owns 303,871 shares of the real estate investment trust’s stock worth $20,824,000 after purchasing an additional 16,993 shares during the period. First Trust Advisors LP increased its holdings in shares of Lamar Advertising by 37.5% in the third quarter. First Trust Advisors LP now owns 129,305 shares of the real estate investment trust’s stock worth $8,861,000 after purchasing an additional 35,239 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Lamar Advertising in the third quarter worth $713,000. Finally, State of Tennessee Treasury Department increased its holdings in shares of Lamar Advertising by 25.0% in the third quarter. State of Tennessee Treasury Department now owns 50,000 shares of the real estate investment trust’s stock worth $3,427,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 84.44% of the company’s stock.
A number of research analysts recently commented on the company. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. MKM Partners increased their target price on Lamar Advertising from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, March 8th. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Citigroup cut Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price on the stock. in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $73.25.
Shares of Lamar Advertising stock traded down $0.91 during trading hours on Monday, hitting $64.46. The stock had a trading volume of 107,155 shares, compared to its average volume of 677,764. Lamar Advertising has a 52-week low of $62.45 and a 52-week high of $79.17. The company has a market capitalization of $6,423.13, a PE ratio of 20.09, a P/E/G ratio of 4.24 and a beta of 1.06. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 2.30.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.37). Lamar Advertising had a net margin of 20.61% and a return on equity of 29.41%. The company had revenue of $398.50 million for the quarter, compared to the consensus estimate of $395.71 million. During the same period last year, the business posted $0.81 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. research analysts expect that Lamar Advertising will post 5.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 19th will be paid a dividend of $0.91 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Friday, March 16th. Lamar Advertising’s dividend payout ratio (DPR) is 103.11%.
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Lamar Advertising Company 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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