Sone Capital Management LLC Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Sone Capital Management LLC acquired a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 21,726 shares of the real estate investment trust's stock, valued at approximately $2,645,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LAMR. JPMorgan Chase & Co. grew its holdings 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 worth $200,093,000 after acquiring an additional 90,933 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Lamar Advertising by 16.1% during the fourth quarter. Park Avenue Securities LLC now owns 3,495 shares of the real estate investment trust's stock worth $425,000 after purchasing an additional 484 shares in the last quarter. HB Wealth Management LLC purchased a new position in Lamar Advertising in the fourth quarter valued at $414,000. Ellsworth Advisors LLC increased its holdings in Lamar Advertising by 10.2% in the fourth quarter. Ellsworth Advisors LLC now owns 13,974 shares of the real estate investment trust's stock valued at $1,701,000 after buying an additional 1,296 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Lamar Advertising by 14.7% during the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Analyst Ratings Changes

LAMR has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Morgan Stanley cut their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup upped their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $132.60.

Lamar Advertising Stock Performance

Shares of LAMR traded down $0.26 during mid-day trading on Thursday, hitting $114.65. 459,148 shares of the company's stock were exchanged, compared to its average volume of 514,362. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The business's 50 day moving average is $112.84 and its two-hundred day moving average is $121.42. The firm has a market capitalization of $11.74 billion, a P/E ratio of 32.48 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The company had revenue of $505.43 million during the quarter, compared to analysts' expectations of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.41%. Lamar Advertising's dividend payout ratio (DPR) is 150.49%.

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.