Duality Advisers LP Takes Position in Lamar Advertising (NASDAQ:LAMR)

Duality Advisers LP acquired a new stake in shares of Lamar Advertising (NASDAQ:LAMR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,454 shares of the real estate investment trust’s stock, valued at approximately $1,217,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Lamar Advertising during the 3rd quarter valued at $30,000. Geneos Wealth Management Inc. increased its stake in Lamar Advertising by 93.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 359 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. Signaturefd LLC increased its stake in Lamar Advertising by 43.7% in the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Lamar Advertising in the 4th quarter valued at about $57,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Lamar Advertising by 249.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 503 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $114.64 on Wednesday. The stock’s 50-day moving average is $113.86 and its 200 day moving average is $104.13. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 23.64 and a beta of 1.50. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $121.99. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.49). The business had revenue of $555.91 million for the quarter, compared to analysts’ expectations of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same period last year, the business posted $1.91 earnings per share. On average, sell-side analysts anticipate that Lamar Advertising will post 7.54 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.54%. Lamar Advertising’s payout ratio is currently 107.22%.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 14.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LAMR. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Morgan Stanley raised their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th.

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.