Lamar Advertising (NASDAQ:LAMR) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 40.0% in the second quarter, Holdings Channel reports. The firm owned 14,808 shares of the real estate investment trust’s stock after acquiring an additional 4,233 shares during the period. Hsbc Holdings PLC’s holdings in Lamar Advertising were worth $1,758,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its position in shares of Lamar Advertising by 10.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,798 shares of the real estate investment trust’s stock worth $931,000 after buying an additional 736 shares during the period. Dimensional Fund Advisors LP grew its position in Lamar Advertising by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock valued at $159,283,000 after acquiring an additional 75,955 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Lamar Advertising by 81.3% during the second 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 purchasing an additional 420,311 shares during the period. Federated Hermes Inc. raised its stake in shares of Lamar Advertising by 4.9% during the second quarter. Federated Hermes Inc. now owns 309,032 shares of the real estate investment trust’s stock valued at $36,939,000 after purchasing an additional 14,575 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Lamar Advertising during the second quarter worth $178,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Down 0.2 %

NASDAQ:LAMR opened at $132.50 on Friday. The stock has a 50-day simple moving average of $122.43 and a 200 day simple moving average of $118.77. Lamar Advertising has a one year low of $77.21 and a one year high of $137.40. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 27.21 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41.

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

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be given a $1.40 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is presently 114.99%.

Analyst Ratings Changes

Several research firms recently issued reports on LAMR. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen boosted their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Finally, Wells Fargo & Company started coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $125.00.

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.