Nomura Asset Management Co. Ltd. Buys 4,110 Shares of Lamar Advertising Company $LAMR

Nomura Asset Management Co. Ltd. raised its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,800 shares of the real estate investment trust's stock after acquiring an additional 4,110 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.12% of Lamar Advertising worth $15,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Lamar Advertising by 426.0% during the 1st quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust's stock worth $74,340,000 after purchasing an additional 533,959 shares during the last quarter. Geode Capital Management LLC increased its position in Lamar Advertising by 27.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust's stock worth $284,577,000 after buying an additional 510,025 shares during the period. Nuveen LLC acquired a new stake in shares of Lamar Advertising during the first quarter worth $40,699,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Lamar Advertising by 181.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust's stock valued at $41,410,000 after acquiring an additional 234,735 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Lamar Advertising by 158.6% in the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust's stock valued at $34,918,000 after acquiring an additional 188,213 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on LAMR shares. Wells Fargo & Company dropped their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Lamar Advertising in a report on Thursday, November 13th. Citigroup boosted their price target on Lamar Advertising from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. increased their price target on Lamar Advertising from $122.00 to $128.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 12th. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $131.75.

View Our Latest Report on Lamar Advertising

Insider Activity at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 14.99% of the company's stock.

Lamar Advertising Stock Down 1.5%

NASDAQ LAMR opened at $127.37 on Thursday. The business has a fifty day moving average price of $122.53 and a two-hundred day moving average price of $122.12. The stock has a market capitalization of $12.90 billion, a PE ratio of 29.62 and a beta of 1.36. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $135.91. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The company had revenue of $585.54 million for the quarter, compared to analyst estimates of $584.00 million. Equities analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. Lamar Advertising's dividend payout ratio is 145.54%.

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.

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