AlphaCentric Advisors LLC Buys Shares of 15,000 Lamar Advertising (NASDAQ:LAMR)

AlphaCentric Advisors LLC bought a new stake in Lamar Advertising (NASDAQ:LAMR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,000 shares of the real estate investment trust’s stock, valued at approximately $1,826,000. Lamar Advertising makes up 1.8% of AlphaCentric Advisors LLC’s holdings, making the stock its 14th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in Lamar Advertising by 2.9% in the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock valued at $567,632,000 after buying an additional 119,068 shares in the last quarter. State Street Corp boosted its position in Lamar Advertising by 0.8% in the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after buying an additional 21,852 shares in the last quarter. Geode Capital Management LLC boosted its position in Lamar Advertising by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock valued at $274,595,000 after buying an additional 90,775 shares in the last quarter. Wellington Management Group LLP boosted its position in Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after buying an additional 617,356 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 worth $200,093,000 after purchasing an additional 90,933 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Up 1.2 %

LAMR opened at $130.04 on Monday. Lamar Advertising has a 1-year low of $105.44 and a 1-year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The company has a market cap of $13.31 billion, a P/E ratio of 26.01 and a beta of 1.51. The company has a fifty day moving average price of $124.79 and a two-hundred day moving average price of $127.12.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.