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

Wilmington Savings Fund Society FSB bought a new position in Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,416 shares of the real estate investment trust’s stock, valued at approximately $323,000.

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC grew its holdings in shares of Lamar Advertising by 13.1% in the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock worth $7,225,000 after acquiring an additional 6,979 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Lamar Advertising in the 3rd quarter worth $43,665,000. Acadian Asset Management LLC grew its holdings in shares of Lamar Advertising by 179.4% during the second quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock valued at $2,226,000 after buying an additional 11,967 shares in the last quarter. Gallacher Capital Management LLC purchased a new position in shares of Lamar Advertising during the second quarter valued at $807,000. Finally, Quest Partners LLC purchased a new position in shares of Lamar Advertising during the third quarter valued at $2,603,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Price Performance

LAMR opened at $128.49 on Wednesday. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 25.70 and a beta of 1.50. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a fifty day moving average price of $132.08 and a 200 day moving average price of $125.29.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data 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 firm 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%. Lamar Advertising’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.04 EPS. Analysts forecast that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 currently 112.00%.

Lamar Advertising 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.