Cornerstone Capital Management Holdings LLC. lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 54.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,882 shares of the real estate investment trust’s stock after selling 137,697 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned 0.12% of Lamar Advertising worth $8,009,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Janus Henderson Group PLC bought a new stake in shares of Lamar Advertising during the second quarter valued at approximately $598,020,000. Victory Capital Management Inc. raised its position in shares of Lamar Advertising by 81.2% during the second quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock valued at $176,805,000 after buying an additional 1,077,170 shares during the last quarter. BlackRock Inc. raised its position in shares of Lamar Advertising by 7.5% during the second quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock valued at $559,646,000 after buying an additional 528,392 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lamar Advertising during the second quarter valued at approximately $33,402,000. Finally, Renaissance Technologies LLC raised its position in shares of Lamar Advertising by 251.7% during the second quarter. Renaissance Technologies LLC now owns 391,800 shares of the real estate investment trust’s stock valued at $28,825,000 after buying an additional 280,388 shares during the last quarter. 84.42% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on LAMR shares. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Morgan Stanley reduced their price objective on shares of 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. Finally, BidaskClub upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $73.00.

Shares of Lamar Advertising (LAMR) opened at $77.41 on Wednesday. Lamar Advertising has a 1 year low of $62.45 and a 1 year high of $79.09. The firm has a market cap of $7,570.33, a price-to-earnings ratio of 15.41 and a beta of 1.16. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.55 and a quick ratio of 1.55.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The business had revenue of $399.30 million during the quarter, compared to the consensus estimate of $392.10 million. During the same quarter in the prior year, the firm posted $0.87 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Friday, December 15th. Lamar Advertising’s dividend payout ratio is presently 105.40%.

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Lamar Advertising 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.

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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