Arrowstreet Capital Limited Partnership Has $7.54 Million Stake in Lamar Advertising (NASDAQ:LAMR)

Arrowstreet Capital Limited Partnership reduced its stake in Lamar Advertising (NASDAQ:LAMR) by 71.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 61,943 shares of the real estate investment trust’s stock after selling 158,681 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Lamar Advertising were worth $7,541,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Lamar Advertising in the 4th quarter valued at $25,000. Blue Trust Inc. raised its stake in Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc raised its stake in Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares in the last quarter. Avior Wealth Management LLC lifted its position in Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 84 shares during the period. Finally, UMB Bank n.a. grew its stake in Lamar Advertising by 14.7% during the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LAMR. JPMorgan Chase & Co. dropped their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Citigroup boosted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $134.60.

Lamar Advertising Trading Down 4.0 %

Shares of Lamar Advertising stock opened at $105.03 on Monday. The firm’s 50 day moving average is $120.86 and its 200 day moving average is $126.32. The firm has a market capitalization of $10.75 billion, a PE ratio of 29.75 and a beta of 1.34. Lamar Advertising has a 1 year low of $102.95 and a 1 year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Equities research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.90%. Lamar Advertising’s dividend payout ratio (DPR) is currently 175.64%.

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.