Lamar Advertising (NASDAQ:LAMR) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 18.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,342 shares of the real estate investment trust’s stock after selling 2,499 shares during the quarter. Atria Investments Inc’s holdings in Lamar Advertising were worth $1,515,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LAMR. Massachusetts Financial Services Co. MA increased its holdings in shares of Lamar Advertising by 81.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after acquiring an additional 420,311 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after buying an additional 284,523 shares during the period. Asset Management One Co. Ltd. increased its holdings in Lamar Advertising by 42,096.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust’s stock worth $16,856,000 after buying an additional 125,868 shares during the period. Easterly Investment Partners LLC acquired a new position in Lamar Advertising in the 3rd quarter worth approximately $12,240,000. Finally, Dimensional Fund Advisors LP increased its holdings in Lamar Advertising by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley increased their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. TD Cowen increased their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Trading Down 0.6 %

Lamar Advertising stock opened at $126.35 on Friday. Lamar Advertising has a 12 month low of $95.83 and a 12 month high of $139.88. The firm has a market cap of $12.93 billion, a PE ratio of 25.26 and a beta of 1.52. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 2.48. The stock’s 50 day simple moving average is $132.03 and its two-hundred day simple moving average is $123.25.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $2.04 earnings per share. Analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.43%. 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 112.00%.

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.