Sone Capital Management LLC Acquires Shares of 21,726 Lamar Advertising (NASDAQ:LAMR)

Sone Capital Management LLC bought a new position in Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, Holdings Channel reports. The fund bought 21,726 shares of the real estate investment trust’s stock, valued at approximately $2,645,000.

A number of other hedge funds also recently made changes to their positions in LAMR. FMR LLC grew its holdings in Lamar Advertising by 11.0% during the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock valued at $672,890,000 after buying an additional 545,606 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock valued at $323,900,000 after purchasing an additional 2,180,011 shares in the last quarter. Boston Partners increased its position in Lamar Advertising by 6.7% in the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock worth $295,122,000 after purchasing an additional 152,575 shares during the last quarter. Geode Capital Management LLC increased its position in Lamar Advertising by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock worth $257,414,000 after purchasing an additional 59,039 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Up 2.6%

Shares of NASDAQ:LAMR opened at $119.87 on Monday. The firm has a market capitalization of $12.27 billion, a PE ratio of 33.96 and a beta of 1.38. The business has a 50 day simple moving average of $112.52 and a two-hundred day simple moving average of $121.57. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. The company had revenue of $505.43 million during the quarter, compared to analysts’ expectations of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, equities analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $1.55 per share. The ex-dividend date is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.17%. Lamar Advertising’s payout ratio is 150.49%.

Analyst Ratings Changes

A number of equities analysts have commented on LAMR shares. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Citigroup boosted their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley lowered their price objective on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $132.60.

Lamar Advertising 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.