Trust Point Inc. Acquires New Shares in Lamar Advertising (NASDAQ:LAMR)

Trust Point Inc. acquired a new stake in shares of Lamar Advertising (NASDAQ:LAMR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,799 shares of the real estate investment trust’s stock, valued at approximately $462,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in Lamar Advertising during the 3rd quarter valued at approximately $43,665,000. JPMorgan Chase & Co. boosted its position in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Lamar Advertising by 19,961.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock valued at $14,741,000 after purchasing an additional 109,790 shares during the period. Franklin Resources Inc. boosted its position in Lamar Advertising by 39.8% during the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock worth $7,017,000 after acquiring an additional 14,672 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Lamar Advertising by 96.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock worth $13,026,000 after acquiring an additional 47,746 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company reduced their price target 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. Finally, TD Cowen boosted 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Trading Up 1.0 %

Shares of Lamar Advertising stock opened at $126.35 on Thursday. 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 $12.93 billion, a price-to-earnings ratio of 25.27 and a beta of 1.51. The business has a fifty day simple moving average of $125.65 and a 200-day simple moving average of $126.69. Lamar Advertising has a fifty-two week low of $102.10 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). The firm had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last 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 company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were issued a $1.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.43%. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

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.