Ranger Global Real Estate Advisors LLC Has $39.83 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

Ranger Global Real Estate Advisors LLC increased its position in Lamar Advertising (NASDAQ:LAMRFree Report) by 129.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 477,140 shares of the real estate investment trust’s stock after buying an additional 268,934 shares during the quarter. Lamar Advertising accounts for approximately 6.0% of Ranger Global Real Estate Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Ranger Global Real Estate Advisors LLC owned approximately 0.47% of Lamar Advertising worth $39,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Essex Financial Services Inc. increased its position in Lamar Advertising by 6.7% during the 3rd quarter. Essex Financial Services Inc. now owns 6,636 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 416 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Lamar Advertising by 14.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 174,939 shares of the real estate investment trust’s stock worth $14,602,000 after buying an additional 22,115 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Lamar Advertising by 4.1% during the 3rd quarter. Royal Bank of Canada now owns 139,170 shares of the real estate investment trust’s stock worth $11,616,000 after buying an additional 5,466 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Lamar Advertising by 7.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 20,969 shares of the real estate investment trust’s stock worth $1,751,000 after buying an additional 1,523 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Lamar Advertising by 10.6% during the 3rd quarter. Sei Investments Co. now owns 12,490 shares of the real estate investment trust’s stock worth $1,043,000 after buying an additional 1,197 shares in the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on LAMR shares. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Morgan Stanley increased their price target on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday.

View Our Latest Report on Lamar Advertising

Lamar Advertising Stock Down 0.8 %

NASDAQ LAMR traded down $0.84 on Wednesday, reaching $108.59. The company had a trading volume of 429,998 shares, compared to its average volume of 405,092. The stock has a market capitalization of $11.08 billion, a P/E ratio of 22.56 and a beta of 1.50. The company’s fifty day moving average is $106.05 and its 200 day moving average is $95.99. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $117.62. The company has a quick ratio of 0.55, a current ratio of 0.52 and a debt-to-equity ratio of 2.55.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last released its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The company had revenue of $555.91 million during the quarter, compared to analysts’ expectations of $549.84 million. During the same period in the previous year, the company posted $1.91 earnings per share. Sell-side analysts anticipate that Lamar Advertising will post 7.48 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.79%. Lamar Advertising’s dividend payout ratio (DPR) is currently 103.09%.

About Lamar Advertising

(Free Report)

Lamar Advertising Company operates as an outdoor advertising company in North America. It operates approximately 363,000 displays across the United States and Canada. It offers advertisers a range of billboard, interstate logo, transit, and airport advertising formats helping local businesses and national brands.

Further Reading

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

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