Lamar Advertising (NASDAQ:LAMR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 9.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 850,509 shares of the real estate investment trust’s stock after selling 86,931 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Lamar Advertising were worth $113,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in Lamar Advertising in the third quarter valued at approximately $43,665,000. International Assets Investment Management LLC lifted its stake in shares of Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after purchasing an additional 284,523 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Lamar Advertising by 42,096.3% during the third quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust’s stock worth $16,856,000 after buying an additional 125,868 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Lamar Advertising during the third quarter worth $12,838,000. Finally, Easterly Investment Partners LLC acquired a new stake in Lamar Advertising during the third quarter valued at $12,240,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LAMR shares. Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. TD Cowen raised their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $130.35 on Friday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 1 year low of $97.54 and a 1 year high of $139.88. The firm has a market capitalization of $13.34 billion, a PE ratio of 26.07 and a beta of 1.52. The business’s 50 day moving average price is $132.41 and its 200-day moving average price is $123.73.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.04 EPS. As a group, equities research analysts expect that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.30%. Lamar Advertising’s dividend 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.