Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,596 Shares of Lamar Advertising (NASDAQ:LAMR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Lamar Advertising (NASDAQ:LAMR) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,413 shares of the real estate investment trust’s stock after purchasing an additional 1,596 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lamar Advertising were worth $2,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after buying an additional 617,356 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Lamar Advertising in the third quarter valued at approximately $43,665,000. International Assets Investment Management LLC grew its stake in Lamar Advertising by 49,140.4% in the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after purchasing an additional 284,523 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Lamar Advertising by 148.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock worth $58,058,000 after purchasing an additional 259,979 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Lamar Advertising by 631.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust’s stock valued at $24,088,000 after purchasing an additional 155,656 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

LAMR stock opened at $128.18 on Tuesday. Lamar Advertising has a one year low of $102.10 and a one year high of $139.88. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 25.64 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day simple moving average of $125.24 and a two-hundred day simple moving average of $126.83.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.04 EPS. On average, equities analysts forecast that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.37%. Lamar Advertising’s payout ratio is 112.00%.

Analyst Ratings Changes

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

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.