25,630 Shares in Lamar Advertising (NASDAQ:LAMR) Acquired by Hourglass Capital LLC

Hourglass Capital LLC bought a new position in Lamar Advertising (NASDAQ:LAMR) in the 3rd quarter, Holdings Channel reports. The fund bought 25,630 shares of the real estate investment trust’s stock, valued at approximately $3,424,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Lamar Advertising in the 3rd quarter worth approximately $12,838,000. GSA Capital Partners LLP bought a new stake in shares of Lamar Advertising during the third quarter valued at approximately $443,000. Entropy Technologies LP raised its position in shares of Lamar Advertising by 371.4% during the third quarter. Entropy Technologies LP now owns 12,312 shares of the real estate investment trust’s stock valued at $1,645,000 after buying an additional 9,700 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Lamar Advertising by 154.9% during the third quarter. Venturi Wealth Management LLC now owns 994 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 604 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Lamar Advertising during the third quarter valued at approximately $43,665,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LAMR has been the topic of several recent analyst reports. TD Cowen lifted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Lamar Advertising currently has an average rating of “Hold” and an average price target of $132.40.

Lamar Advertising Trading Down 0.5 %

LAMR stock opened at $128.25 on Thursday. The firm has a fifty day moving average price of $131.93 and a 200 day moving average price of $123.19. Lamar Advertising has a fifty-two week low of $94.71 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. The firm has a market cap of $13.12 billion, a PE ratio of 25.65 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.04 earnings per share. Sell-side analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.37%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 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.