New England Asset Management Inc. acquired a new stake in Lamar Advertising Co (NASDAQ:LAMR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,547 shares of the real estate investment trust’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd grew its holdings in shares of Lamar Advertising by 566.4% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,606 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 1,365 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new position in shares of Lamar Advertising in the 1st quarter valued at about $164,000. Quadrature Capital Ltd bought a new position in shares of Lamar Advertising in the 1st quarter valued at about $203,000. Anchor Capital Advisors LLC bought a new position in shares of Lamar Advertising in the 2nd quarter valued at about $242,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Lamar Advertising in the 2nd quarter valued at about $269,000. Institutional investors own 83.48% of the company’s stock.

Lamar Advertising stock opened at $78.12 on Thursday. Lamar Advertising Co has a 52 week low of $61.36 and a 52 week high of $79.17. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market cap of $7.66 billion, a P/E ratio of 15.47 and a beta of 1.13.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Lamar Advertising had a return on equity of 27.75% and a net margin of 18.93%. The business had revenue of $419.80 million during the quarter, compared to analysts’ expectations of $416.75 million. During the same quarter last year, the company posted $0.94 earnings per share. Lamar Advertising’s quarterly revenue was up 5.7% on a year-over-year basis. sell-side analysts predict that Lamar Advertising Co will post 5.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Thursday, September 13th. Lamar Advertising’s payout ratio is currently 72.08%.

Several equities analysts have recently weighed in on LAMR shares. BidaskClub cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. TheStreet upgraded Lamar Advertising from a “c+” rating to a “b-” rating in a report on Wednesday, June 6th. ValuEngine upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Finally, MKM Partners lifted their price target on Lamar Advertising to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $77.33.

Lamar Advertising Company Profile

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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

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