State Street Corp Has $352.75 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

State Street Corp grew its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,640,356 shares of the real estate investment trust’s stock after acquiring an additional 21,852 shares during the period. State Street Corp owned about 2.58% of Lamar Advertising worth $352,752,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Quantinno Capital Management LP increased its holdings in Lamar Advertising by 103.1% in the third quarter. Quantinno Capital Management LP now owns 35,250 shares of the real estate investment trust’s stock valued at $4,709,000 after purchasing an additional 17,897 shares during the period. Redwood Investment Management LLC increased its stake in shares of Lamar Advertising by 4.1% in the third quarter. Redwood Investment Management LLC now owns 12,168 shares of the real estate investment trust’s stock valued at $1,622,000 after buying an additional 480 shares during the period. IHT Wealth Management LLC bought a new position in shares of Lamar Advertising during the third quarter worth about $286,000. Janus Henderson Group PLC lifted its stake in shares of Lamar Advertising by 2.9% in the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after acquiring an additional 119,068 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Lamar Advertising by 5.0% in the third quarter. HighTower Advisors LLC now owns 626,950 shares of the real estate investment trust’s stock valued at $83,708,000 after acquiring an additional 29,683 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.3 %

Shares of NASDAQ LAMR opened at $131.60 on Tuesday. 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 firm has a market cap of $13.47 billion, a PE ratio of 26.32 and a beta of 1.50. The company’s fifty day simple moving average is $132.42 and its 200 day simple moving average is $124.81. Lamar Advertising has a 12-month low of $100.15 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) 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 company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same period last year, the company earned $2.04 EPS. Lamar Advertising’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.26%. Lamar Advertising’s dividend payout ratio is 112.00%.

Wall Street Analyst Weigh In

LAMR has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. TD Cowen boosted their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price objective 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising 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.