Sumitomo Mitsui DS Asset Management Company Ltd Purchases New Position in Lamar Advertising (NASDAQ:LAMR)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Lamar Advertising (NASDAQ:LAMR) in the third quarter, according to its most recent filing with the SEC. The fund acquired 16,817 shares of the real estate investment trust’s stock, valued at approximately $2,247,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jamison Private Wealth Management Inc. grew its position in shares of Lamar Advertising by 6.6% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 84 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Lamar Advertising by 1.0% during the third quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock valued at $1,329,000 after buying an additional 97 shares during the period. SPC Financial Inc. increased its position in shares of 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 valued at $359,000 after buying an additional 103 shares during the period. Woodward Diversified Capital LLC lifted its holdings in shares of Lamar Advertising by 2.6% in 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 in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Lamar Advertising by 1.8% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock valued at $789,000 after acquiring an additional 114 shares during the period. Institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Lamar Advertising Price Performance

LAMR opened at $136.10 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $13.92 billion, a P/E ratio of 27.95 and a beta of 1.52. The stock has a 50-day moving average price of $128.20 and a 200-day moving average price of $120.94. Lamar Advertising has a 12-month low of $79.94 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its 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). The firm had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS. Equities analysts predict that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.11%. Lamar Advertising’s payout ratio is currently 114.99%.

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.