Lamar Advertising (NASDAQ:LAMR) Stock Position Lowered by Dark Forest Capital Management LP

Dark Forest Capital Management LP lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 18.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,815 shares of the real estate investment trust’s stock after selling 655 shares during the period. Dark Forest Capital Management LP’s holdings in Lamar Advertising were worth $336,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of Lamar Advertising in the 1st quarter worth approximately $25,000. Whittier Trust Co. grew its position 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 buying an additional 130 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Lamar Advertising in the first quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising during the 2nd quarter valued at $30,000. Finally, Quarry LP boosted its stake in shares of Lamar Advertising by 70.4% during the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 133 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Trading Up 0.6 %

NASDAQ:LAMR opened at $133.27 on Friday. The stock’s 50-day moving average is $122.94 and its two-hundred day moving average is $118.98. 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 stock has a market cap of $13.63 billion, a PE ratio of 27.37 and a beta of 1.52. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $137.40.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). The company had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. As a group, equities research analysts forecast 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 will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.20%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LAMR. Wells Fargo & Company initiated coverage on Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, TD Cowen upped 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.