SG Americas Securities LLC Makes New $1.07 Million Investment in Lamar Advertising (NASDAQ:LAMR)

SG Americas Securities LLC bought a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,989 shares of the real estate investment trust’s stock, valued at approximately $1,067,000.

Other institutional investors also recently modified their holdings of the company. Clear Street Markets LLC acquired a new position in shares of Lamar Advertising during the fourth quarter worth $159,000. Quarry LP grew its holdings in 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 during the period. Royal London Asset Management Ltd. increased its holdings in Lamar Advertising by 4.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 21,822 shares of the real estate investment trust’s stock worth $2,319,000 after purchasing an additional 853 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Lamar Advertising in the 4th quarter valued at $111,255,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Lamar Advertising by 2.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 57,652 shares of the real estate investment trust’s stock valued at $6,127,000 after acquiring an additional 1,643 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LAMR shares. JPMorgan Chase & Co. increased their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective on the stock. TD Cowen upped 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 lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Trading Down 0.4 %

Shares of Lamar Advertising stock opened at $131.45 on Friday. Lamar Advertising has a 1 year low of $79.94 and a 1 year high of $137.40. The company has a 50 day simple moving average of $125.17 and a two-hundred day simple moving average of $119.95. The firm has a market cap of $13.44 billion, a PE ratio of 26.99 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 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). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. During the same period in the prior year, the company earned $1.90 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.26%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is presently 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.