Cubist Systematic Strategies LLC Decreases Stake in Lamar Advertising (NASDAQ:LAMR)

Cubist Systematic Strategies LLC lowered its stake in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 12.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 45,652 shares of the real estate investment trust’s stock after selling 6,265 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Lamar Advertising were worth $3,766,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LAMR. MML Investors Services LLC grew its stake in shares of Lamar Advertising by 70.6% in the third quarter. MML Investors Services LLC now owns 39,351 shares of the real estate investment trust’s stock worth $3,246,000 after purchasing an additional 16,283 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Lamar Advertising by 836.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 51,033 shares of the real estate investment trust’s stock valued at $4,210,000 after buying an additional 45,583 shares during the period. FORA Capital LLC bought a new position in shares of Lamar Advertising during the third quarter valued at approximately $594,000. Prudential PLC lifted its stake in Lamar Advertising by 254.0% in the third quarter. Prudential PLC now owns 17,388 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 12,476 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Lamar Advertising by 2.2% in the third quarter. Oppenheimer & Co. Inc. now owns 15,428 shares of the real estate investment trust’s stock worth $1,273,000 after acquiring an additional 325 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $106.34 on Monday. The company’s fifty day moving average price is $102.40 and its 200-day moving average price is $96.16. The stock has a market cap of $10.82 billion, a PE ratio of 24.62 and a beta of 1.39. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.58. Lamar Advertising has a 12 month low of $81.10 and a 12 month high of $119.68.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last posted its quarterly earnings data on Friday, February 24th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.69 by ($1.04). Lamar Advertising had a return on equity of 35.56% and a net margin of 21.58%. The business had revenue of $535.51 million for the quarter, compared to the consensus estimate of $536.42 million. During the same period in the previous year, the firm earned $1.78 EPS. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Lamar Advertising will post 7.24 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Thursday, March 16th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.20. Lamar Advertising’s dividend payout ratio (DPR) is 111.11%.

Analyst Ratings Changes

Several research analysts have commented on LAMR shares. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, February 27th. Finally, Citigroup raised their price objective on shares of Lamar Advertising from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, March 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Lamar Advertising has an average rating of “Hold” and an average target price of $116.75.

Lamar Advertising Profile

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Lamar Advertising Co engages in advertising services. The firm rents advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.