Private Management Group Inc. lowered its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,502 shares of the real estate investment trust's stock after selling 4,386 shares during the period. Private Management Group Inc. owned approximately 0.17% of Lamar Advertising worth $22,913,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Foundations Investment Advisors LLC increased its stake in Lamar Advertising by 2.2% in the third quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust's stock valued at $500,000 after purchasing an additional 80 shares in the last quarter. Private Advisor Group LLC increased its position in Lamar Advertising by 0.7% in the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust's stock valued at $1,576,000 after buying an additional 82 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in Lamar Advertising by 6.6% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust's stock worth $180,000 after buying an additional 84 shares during the period. Global Retirement Partners LLC boosted its holdings in Lamar Advertising by 1.0% in the third quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust's stock worth $1,329,000 after acquiring an additional 97 shares in the last quarter. Finally, SPC Financial Inc. boosted its holdings in Lamar Advertising by 3.6% in the first quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust's stock worth $359,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
NASDAQ LAMR traded down $0.75 during trading hours on Friday, reaching $131.25. 313,931 shares of the stock traded hands, compared to its average volume of 398,661. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 26.62 and a beta of 1.52. The stock has a 50 day simple moving average of $130.91 and a two-hundred day simple moving average of $122.13. Lamar Advertising has a 1 year low of $85.82 and a 1 year high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its 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 firm had revenue of $565.25 million during the quarter, compared to analysts' expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS. On average, analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.27%. 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 is presently 113.59%.
LAMR has been the topic of a number of recent research reports. Citigroup cut Lamar Advertising from a "buy" rating to a "neutral" rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. StockNews.com raised shares of Lamar Advertising from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $132.00 target price on the stock. Finally, TD Cowen boosted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Lamar Advertising has an average rating of "Hold" and an average price target of $125.00.
View Our Latest Analysis on Lamar Advertising
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.
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