Oddo BHF Asset Management Sas Makes New $3.22 Million Investment in Lamar Advertising (NASDAQ:LAMR)

Oddo BHF Asset Management Sas purchased a new position in Lamar Advertising (NASDAQ:LAMR) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 24,072 shares of the real estate investment trust’s stock, valued at approximately $3,216,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Foundations Investment Advisors LLC boosted its stake in Lamar Advertising by 2.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock worth $500,000 after purchasing an additional 80 shares during the period. Private Advisor Group LLC boosted its position in shares of Lamar Advertising by 0.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock valued at $1,576,000 after acquiring an additional 82 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its position in shares of Lamar Advertising by 6.6% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 84 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Lamar Advertising by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 85 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Lamar Advertising by 1.0% during the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock valued at $1,329,000 after acquiring an additional 97 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Performance

LAMR stock opened at $128.80 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The business’s fifty day simple moving average is $132.29 and its two-hundred day simple moving average is $124.94. Lamar Advertising has a twelve month low of $100.15 and a twelve month high of $139.88. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 25.79 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the previous year, the business earned $2.04 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts predict that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.35%. Lamar Advertising’s dividend payout ratio is currently 112.00%.

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.