Tidal Investments LLC Decreases Position in Lamar Advertising (NASDAQ:LAMR)

Tidal Investments LLC decreased its position in Lamar Advertising (NASDAQ:LAMR) by 32.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,530 shares of the real estate investment trust’s stock after selling 722 shares during the period. Tidal Investments LLC’s holdings in Lamar Advertising were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Whittier Trust Co. grew its stake in Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Burney Co. lifted its position in shares of Lamar Advertising by 36.0% in the second quarter. Burney Co. now owns 11,415 shares of the real estate investment trust’s stock valued at $1,364,000 after acquiring an additional 3,023 shares in the last quarter. Argent Advisors Inc. boosted its stake in shares of Lamar Advertising by 8.0% during the second quarter. Argent Advisors Inc. now owns 12,452 shares of the real estate investment trust’s stock valued at $1,488,000 after acquiring an additional 926 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Lamar Advertising by 22.0% during the second quarter. Signaturefd LLC now owns 1,376 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 248 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its position in Lamar Advertising by 3.7% during the 2nd quarter. Boston Financial Mangement LLC now owns 21,161 shares of the real estate investment trust’s stock worth $2,529,000 after purchasing an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen raised their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley lifted 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 note on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Down 0.0 %

LAMR opened at $123.44 on Thursday. The stock has a market cap of $12.64 billion, a P/E ratio of 24.69 and a beta of 1.50. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s 50 day moving average price is $130.94 and its 200 day moving average price is $125.49. Lamar Advertising has a 12 month low of $100.15 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the prior year, the firm posted $2.04 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.54%. Lamar Advertising’s payout ratio is presently 112.00%.

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.