Easterly Investment Partners LLC Takes $12.24 Million Position in Lamar Advertising (NASDAQ:LAMR)

Easterly Investment Partners LLC bought a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 91,616 shares of the real estate investment trust’s stock, valued at approximately $12,240,000. Easterly Investment Partners LLC owned 0.09% of Lamar Advertising at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LAMR. Blue Trust Inc. increased its holdings in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Lamar Advertising in the 3rd quarter worth $26,000. MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising in the 2nd quarter worth $30,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Lamar Advertising in the 2nd quarter worth $45,000. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LAMR. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen upped their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target for the company. Finally, Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Trading Down 4.8 %

Shares of NASDAQ:LAMR traded down $6.54 on Friday, hitting $128.45. The company had a trading volume of 214,801 shares, compared to its average volume of 400,252. The firm’s 50-day simple moving average is $131.69 and its two-hundred day simple moving average is $122.74. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $13.14 billion, a price-to-earnings ratio of 26.08 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 earnings per share. Equities analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.36%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is presently 113.59%.

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.