ProShare Advisors LLC Has $495,000 Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

ProShare Advisors LLC cut its stake in Lamar Advertising (NASDAQ:LAMR) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,142 shares of the real estate investment trust’s stock after selling 130 shares during the quarter. ProShare Advisors LLC’s holdings in Lamar Advertising were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. SPC Financial Inc. increased its position in Lamar Advertising by 3.6% during the first quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 103 shares during the last quarter. Woodward Diversified Capital LLC increased its position in Lamar Advertising by 2.6% during the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Lamar Advertising by 1.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 114 shares during the last quarter. Simplicity Wealth LLC increased its position in Lamar Advertising by 0.4% during the second quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock worth $3,301,000 after buying an additional 121 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Lamar Advertising by 1.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after buying an additional 123 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Trading Up 0.2 %

Shares of NASDAQ:LAMR opened at $133.60 on Tuesday. The company has a market cap of $13.66 billion, a P/E ratio of 27.43 and a beta of 1.52. The stock’s 50-day moving average is $122.94 and its 200-day moving average is $119.01. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $137.40. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. 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 prior year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current 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. This represents a $5.60 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is presently 114.99%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. Wells Fargo & Company initiated coverage on shares of 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. TD Cowen raised their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average 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.