Los Angeles Capital Management LLC Lowers Stake in Lamar Advertising (NASDAQ:LAMR)

Los Angeles Capital Management LLC cut its stake in Lamar Advertising (NASDAQ:LAMR) by 99.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,235 shares of the real estate investment trust’s stock after selling 323,601 shares during the period. Los Angeles Capital Management LLC’s holdings in Lamar Advertising were worth $394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAMR. Janus Henderson Group PLC lifted its stake in Lamar Advertising by 2.9% during the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after purchasing an additional 119,068 shares during the last quarter. State Street Corp raised its holdings in shares of Lamar Advertising by 0.8% during the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after buying an additional 21,852 shares in the last quarter. Geode Capital Management LLC lifted its position in Lamar Advertising by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock worth $274,595,000 after buying an additional 90,775 shares during the last quarter. Wellington Management Group LLP boosted its stake in Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after buying an additional 617,356 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after acquiring an additional 90,933 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. TD Cowen raised their price objective 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. Citigroup upped their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Stock Performance

Shares of LAMR opened at $124.41 on Tuesday. 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 stock has a market cap of $12.74 billion, a P/E ratio of 35.24 and a beta of 1.51. The business’s 50 day moving average price is $124.46 and its 200-day moving average price is $127.86. Lamar Advertising has a 52 week low of $108.80 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Equities research analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is currently 175.64%.

Lamar Advertising Company 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.