Geode Capital Management LLC Has $274.60 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Geode Capital Management LLC increased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 4.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,054,962 shares of the real estate investment trust’s stock after purchasing an additional 90,775 shares during the quarter. Geode Capital Management LLC owned 2.01% of Lamar Advertising worth $274,595,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Lamar Advertising by 1.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,838 shares of the real estate investment trust’s stock worth $4,164,000 after acquiring an additional 351 shares during the period. Raymond James & Associates increased its holdings in Lamar Advertising by 3.8% during the 2nd quarter. Raymond James & Associates now owns 370,275 shares of the real estate investment trust’s stock worth $44,259,000 after purchasing an additional 13,444 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Lamar Advertising by 16.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 15,904 shares of the real estate investment trust’s stock valued at $1,901,000 after purchasing an additional 2,270 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Lamar Advertising by 0.6% in the second quarter. Nisa Investment Advisors LLC now owns 50,069 shares of the real estate investment trust’s stock valued at $5,985,000 after purchasing an additional 306 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Lamar Advertising in the second quarter valued at about $215,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR opened at $129.00 on Friday. The company has a market cap of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50. The firm has a 50-day moving average of $132.21 and a 200-day moving average of $125.01. Lamar Advertising has a one year low of $100.15 and a one 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 results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 EPS. As a group, equities analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, December 18th. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LAMR shares. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Lamar Advertising presently has an average rating of “Hold” and a consensus target price of $132.40.

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.