15,084 Shares in Lamar Advertising (NASDAQ:LAMR) Bought by QRG Capital Management Inc.

QRG Capital Management Inc. acquired a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,084 shares of the real estate investment trust’s stock, valued at approximately $2,015,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Management One Co. Ltd. grew its position in Lamar Advertising by 42,096.3% during 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 acquiring an additional 125,868 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Lamar Advertising by 78.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,524 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 1,111 shares during the last quarter. Farther Finance Advisors LLC grew its position in Lamar Advertising by 23.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 975 shares of the real estate investment trust’s stock worth $130,000 after acquiring an additional 184 shares during the last quarter. Stephens Inc. AR grew its position in Lamar Advertising by 8.4% during the 3rd quarter. Stephens Inc. AR now owns 26,824 shares of the real estate investment trust’s stock worth $3,584,000 after acquiring an additional 2,080 shares during the last quarter. Finally, HM Payson & Co. grew its position in Lamar Advertising by 366.8% during the 3rd quarter. HM Payson & Co. now owns 1,027 shares of the real estate investment trust’s stock worth $137,000 after acquiring an additional 807 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the topic of a number of research reports. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company started coverage on Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. TD Cowen lifted their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a 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, Lamar Advertising has an average rating of “Hold” and an average target price of $125.00.

Lamar Advertising Stock Up 2.2 %

Shares of NASDAQ:LAMR opened at $134.99 on Friday. The company has a market capitalization of $13.81 billion, a price-to-earnings ratio of 27.38 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. The business’s 50-day moving average is $131.69 and its 200-day moving average is $122.74. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The business had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. Equities research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 113.59%.

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.