Candriam Luxembourg S.C.A. bought a new stake in Lamar Advertising (NASDAQ:LAMR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,000 shares of the real estate investment trust’s stock, valued at approximately $480,000.
Several other institutional investors have also made changes to their positions in LAMR. Janus Henderson Group PLC bought a new stake in Lamar Advertising during the second quarter worth about $598,020,000. Victory Capital Management Inc. lifted its position in Lamar Advertising by 81.2% during the second quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock worth $176,805,000 after purchasing an additional 1,077,170 shares during the period. BlackRock Inc. lifted its position in Lamar Advertising by 7.5% during the second quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock worth $559,646,000 after purchasing an additional 528,392 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Lamar Advertising during the second quarter worth about $33,402,000. Finally, Renaissance Technologies LLC lifted its position in Lamar Advertising by 251.7% during the second quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock worth $28,825,000 after purchasing an additional 280,388 shares during the period. 84.42% of the stock is owned by institutional investors.
Shares of Lamar Advertising (NASDAQ:LAMR) traded down $0.36 during midday trading on Wednesday, reaching $76.05. The company’s stock had a trading volume of 295,468 shares, compared to its average volume of 597,950. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $6,420.00, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 5.25 and a beta of 1.15. Lamar Advertising has a 12-month low of $62.45 and a 12-month high of $79.09.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Friday, December 15th. Lamar Advertising’s dividend payout ratio is currently 105.06%.
LAMR has been the subject of several recent analyst reports. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub cut shares of Lamar Advertising from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Morgan Stanley cut their price objective on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. Citigroup reaffirmed a “neutral” rating and set a $66.00 price objective (down previously from $69.00) on shares of Lamar Advertising in a research report on Friday, August 11th. Finally, MKM Partners lowered their target price on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $73.00.
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Lamar Advertising Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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