Profund Advisors LLC Has $291,000 Holdings in Lamar Advertising (NASDAQ:LAMR)

Profund Advisors LLC decreased its holdings in Lamar Advertising (NASDAQ:LAMR) by 21.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,433 shares of the real estate investment trust’s stock after selling 647 shares during the quarter. Profund Advisors LLC’s holdings in Lamar Advertising were worth $291,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Lamar Advertising during the fourth quarter valued at approximately $111,255,000. Morningstar Investment Services LLC lifted its stake in Lamar Advertising by 97.6% during the 4th quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock valued at $98,347,000 after acquiring an additional 451,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Lamar Advertising by 81.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after acquiring an additional 420,311 shares in the last quarter. Norges Bank purchased a new position in Lamar Advertising during the 4th quarter worth $38,406,000. Finally, Centersquare Investment Management LLC grew its stake in shares of Lamar Advertising by 1,252.8% in the 4th quarter. Centersquare Investment Management LLC now owns 340,181 shares of the real estate investment trust’s stock worth $36,154,000 after acquiring an additional 315,034 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.6 %

Lamar Advertising stock opened at $133.27 on Friday. The firm has a 50 day moving average price of $122.67 and a 200-day moving average price of $118.87. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $137.40. The company has a market capitalization of $13.63 billion, a P/E ratio of 27.37 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company posted $1.90 earnings per share. As a group, equities analysts predict that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be paid a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s payout ratio is currently 114.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LAMR shares. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research report on Thursday, July 11th. Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. TD Cowen increased their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $125.00.

About Lamar Advertising

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.