Jupiter Asset Management Ltd. Takes $3.99 Million Position in Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• Jupiter Asset Management Ltd. acquired 35,074 shares of Lamar Advertising Company during the 1st quarter, valued at approximately $3.99 million.
• Lamar Advertising's quarterly earnings results exceeded analysts' expectations with an EPS of $1.60, while revenue was slightly below estimates at $505.43 million.
• The company recently declared a quarterly dividend of $1.55, representing an annualized yield of 5.1% with a notable dividend payout ratio of 150.49%.

Jupiter Asset Management Ltd. acquired a new position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,074 shares of the real estate investment trust's stock, valued at approximately $3,991,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Lamar Advertising in the first quarter worth $28,000. HHM Wealth Advisors LLC grew its stake in shares of Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 269 shares during the period. ST Germain D J Co. Inc. raised its stake in Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 218 shares during the period. Bessemer Group Inc. boosted its stake in shares of Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 143 shares during the period. Finally, Wayfinding Financial LLC bought a new position in Lamar Advertising in the 1st quarter worth approximately $60,000. Hedge funds and other institutional investors own 93.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LAMR. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lamar Advertising has an average rating of "Hold" and a consensus price target of $136.00.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR traded up $0.19 during trading hours on Thursday, reaching $124.75. The stock had a trading volume of 986,447 shares, compared to its average volume of 604,951. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 30.28 and a beta of 1.36. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The firm has a 50-day moving average of $122.59 and a 200-day moving average of $119.60.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The business had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. Equities research analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.55 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.0%. Lamar Advertising's payout ratio is currently 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.