Asset Management One Co. Ltd. Acquires 125,868 Shares of Lamar Advertising (NASDAQ:LAMR)

Asset Management One Co. Ltd. lifted its stake in Lamar Advertising (NASDAQ:LAMR) by 42,096.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,167 shares of the real estate investment trust’s stock after purchasing an additional 125,868 shares during the period. Asset Management One Co. Ltd. owned about 0.12% of Lamar Advertising worth $16,856,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in 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 acquiring an additional 151 shares in the last quarter. Whittier Trust Co. grew its stake in Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Concord Wealth Partners purchased a new position in Lamar Advertising during the 3rd quarter worth $26,000. Fidelis Capital Partners LLC bought a new stake in Lamar Advertising during the 1st quarter valued at $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lamar Advertising during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of LAMR opened at $132.25 on Wednesday. The company has a 50 day moving average of $131.29 and a two-hundred day moving average of $122.59. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a twelve month low of $91.20 and a twelve month high of $139.88. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 26.83 and a beta of 1.52.

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

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.23%. Lamar Advertising’s dividend payout ratio (DPR) is 113.59%.

Analysts Set New Price Targets

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

About 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.