Lamar Advertising (NASDAQ:LAMR) Stock Holdings Lifted by JCP Investment Management LLC

JCP Investment Management LLC boosted its position in Lamar Advertising (NASDAQ:LAMR) by 51.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,000 shares of the real estate investment trust’s stock after acquiring an additional 25,000 shares during the period. Lamar Advertising accounts for 9.9% of JCP Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. JCP Investment Management LLC’s holdings in Lamar Advertising were worth $8,845,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LAMR. Wellington Management Group LLP bought a new position in Lamar Advertising in the 4th quarter worth $111,255,000. Morningstar Investment Services LLC raised its stake in Lamar Advertising by 97.6% in the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after buying an additional 451,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Lamar Advertising by 81.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after buying an additional 420,311 shares during the period. Norges Bank bought a new stake in Lamar Advertising during the 4th quarter valued at approximately $38,406,000. Finally, Centersquare Investment Management LLC grew its holdings in shares of Lamar Advertising by 1,252.8% during the 4th quarter. Centersquare Investment Management LLC now owns 340,181 shares of the real estate investment trust’s stock worth $36,154,000 after acquiring an additional 315,034 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. 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. TD Cowen lifted 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. Wells Fargo & Company started coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $133.27 on Friday. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $137.40. The firm’s 50-day moving average is $122.67 and its 200 day moving average is $118.87. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 27.37 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter in the previous year, the company earned $1.90 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.20%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 114.99%.

Lamar Advertising Company 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.