Dimensional Fund Advisors LP Raises Stake in Lamar Advertising (LAMR)
Dimensional Fund Advisors LP lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 113.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 462,231 shares of the real estate investment trust’s stock after buying an additional 245,913 shares during the period. Dimensional Fund Advisors LP’s holdings in Lamar Advertising were worth $31,676,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of LAMR. Neuberger Berman Group LLC acquired a new stake in shares of Lamar Advertising during the second quarter worth about $298,000. Westpac Banking Corp acquired a new stake in shares of Lamar Advertising during the second quarter worth about $176,000. Alliancebernstein L.P. lifted its position in shares of Lamar Advertising by 2.6% during the second quarter. Alliancebernstein L.P. now owns 52,945 shares of the real estate investment trust’s stock worth $3,895,000 after purchasing an additional 1,360 shares in the last quarter. Teachers Advisors LLC raised its holdings in Lamar Advertising by 38.1% in the second quarter. Teachers Advisors LLC now owns 107,407 shares of the real estate investment trust’s stock valued at $7,902,000 after acquiring an additional 29,636 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Lamar Advertising by 10.6% in the second quarter. TIAA CREF Investment Management LLC now owns 131,376 shares of the real estate investment trust’s stock valued at $9,665,000 after acquiring an additional 12,548 shares in the last quarter. 84.39% of the stock is currently owned by institutional investors and hedge funds.
LAMR has been the topic of several analyst reports. Citigroup cut shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price on the stock. in a report on Wednesday, December 20th. BidaskClub raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Morgan Stanley reduced their target price on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $73.40.
Shares of Lamar Advertising (NASDAQ LAMR) opened at $71.43 on Tuesday. The firm has a market cap of $6,000.00, a P/E ratio of 22.60, a P/E/G ratio of 4.63 and a beta of 1.15. Lamar Advertising has a 1-year low of $62.45 and a 1-year high of $79.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.23.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.34). The company had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $392.10 million. Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. equities analysts forecast that Lamar Advertising will post 4.84 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.65%. Lamar Advertising’s dividend payout ratio is currently 105.06%.
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About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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