Renaissance Technologies LLC grew its position in Lamar Advertising Company (NASDAQ:LAMR) by 251.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,800 shares of the real estate investment trust’s stock after purchasing an additional 280,388 shares during the period. Renaissance Technologies LLC owned about 0.40% of Lamar Advertising worth $28,825,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of LAMR. Westpac Banking Corp acquired a new position in Lamar Advertising in the 2nd quarter worth about $176,000. Penserra Capital Management LLC increased its position in Lamar Advertising by 9.5% in the 2nd quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 214 shares during the last quarter. Verity Asset Management Inc. acquired a new position in Lamar Advertising in the 2nd quarter worth about $204,000. Two Sigma Securities LLC acquired a new position in Lamar Advertising in the 1st quarter worth about $220,000. Finally, SPC Financial Inc. acquired a new position in Lamar Advertising in the 2nd quarter worth about $221,000. 85.05% of the stock is currently owned by institutional investors.
Lamar Advertising Company (NASDAQ:LAMR) opened at 67.82 on Friday. Lamar Advertising Company has a one year low of $58.68 and a one year high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.37). The firm had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. Analysts predict that Lamar Advertising Company will post $3.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.83 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.90%. Lamar Advertising’s dividend payout ratio (DPR) is 109.21%.
LAMR has been the topic of several research reports. Zacks Investment Research raised Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Morgan Stanley dropped their target price on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, September 18th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $73.00.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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