ExodusPoint Capital Management LP Has $22.69 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

ExodusPoint Capital Management LP raised its stake in Lamar Advertising (NASDAQ:LAMR) by 180.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 186,364 shares of the real estate investment trust’s stock after buying an additional 119,968 shares during the quarter. ExodusPoint Capital Management LP owned 0.18% of Lamar Advertising worth $22,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Lamar Advertising by 0.8% in the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after acquiring an additional 21,852 shares during the period. Boston Partners raised its holdings in Lamar Advertising by 6.7% in the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock worth $295,122,000 after purchasing an additional 152,575 shares during the period. Geode Capital Management LLC boosted its position in shares of Lamar Advertising by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock worth $257,414,000 after purchasing an additional 59,039 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Lamar Advertising by 45.5% in the 3rd 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 during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after buying an additional 90,933 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $115.94 on Thursday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 32.84 and a beta of 1.53. The stock’s 50-day moving average is $121.66 and its 200-day moving average is $126.68. Lamar Advertising has a one year low of $108.80 and a one year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Equities analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 5.35%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is 175.64%.

Analysts Set New Price Targets

A number of research analysts have issued reports on LAMR shares. JPMorgan Chase & Co. decreased their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Citigroup boosted their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $134.60.

About Lamar Advertising

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.