Lamar Advertising Company (NASDAQ:LAMR) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management has increased its position in Lamar Advertising Company, purchasing an additional 3,048 shares, resulting in a total ownership of 61,213 shares worth approximately $6.97 million.
• Lamar Advertising recently reported earnings of $2.22 per share, significantly exceeding analyst expectations of $1.48, while revenue for the latest quarter was $579.31 million, slightly below estimates.
• The company declared a quarterly dividend of $1.55 per share, yielding about 5.4%, despite a high dividend payout ratio of 144.19%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,213 shares of the real estate investment trust's stock after acquiring an additional 3,048 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.06% of Lamar Advertising worth $6,965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cohen & Steers Inc. increased its stake in Lamar Advertising by 453.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after buying an additional 2,180,011 shares during the period. Northern Trust Corp grew its holdings in Lamar Advertising by 50.5% during the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after acquiring an additional 428,744 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lamar Advertising by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock valued at $126,258,000 after buying an additional 7,426 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lamar Advertising by 5.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock valued at $104,431,000 after buying an additional 50,004 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in Lamar Advertising by 8.8% in the first quarter. Centersquare Investment Management LLC now owns 655,886 shares of the real estate investment trust's stock worth $74,627,000 after acquiring an additional 52,876 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Performance

NASDAQ LAMR traded down $0.28 on Thursday, hitting $121.22. 706,928 shares of the company's stock traded hands, compared to its average volume of 621,575. The company has a current ratio of 0.58, a quick ratio of 0.57 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88. The firm's 50-day moving average price is $122.41 and its two-hundred day moving average price is $119.33. The firm has a market capitalization of $12.41 billion, a PE ratio of 28.19 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The business had revenue of $579.31 million during the quarter, compared to analysts' expectations of $580.72 million. As a group, analysts expect that Lamar Advertising Company will post 7.92 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on LAMR shares. JPMorgan Chase & Co. dropped their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a research report on Monday. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Morgan Stanley boosted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Lamar Advertising presently has a consensus rating of "Hold" and a consensus target price of $134.20.

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.