AlphaCentric Advisors LLC Invests $1.83 Million in Lamar Advertising (NASDAQ:LAMR)

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

A number of other large investors also recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in Lamar Advertising by 2.9% in the 3rd 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 purchasing an additional 119,068 shares during the last quarter. State Street Corp lifted its stake in 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 purchasing an additional 21,852 shares during the last quarter. Geode Capital Management LLC lifted its stake in Lamar Advertising by 4.6% in the 3rd 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 purchasing an additional 90,775 shares during the last quarter. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 617,356 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 90,933 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LAMR shares. Morgan Stanley raised their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. TD Cowen increased their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered 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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Up 1.2 %

Shares of LAMR opened at $130.04 on Monday. Lamar Advertising has a 12 month low of $105.44 and a 12 month high of $139.88. The firm’s 50 day moving average is $124.79 and its 200-day moving average is $127.12. The stock has a market capitalization of $13.31 billion, a PE ratio of 26.01 and a beta of 1.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising Announces Dividend

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

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.