Principal Financial Group Inc. Has $27.22 Million Stake in Lamar Advertising (NASDAQ:LAMR)

Principal Financial Group Inc. trimmed its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 30.4% in the third quarter, Holdings Channel.com reports. The firm owned 203,751 shares of the real estate investment trust’s stock after selling 88,924 shares during the quarter. Principal Financial Group Inc.’s holdings in Lamar Advertising were worth $27,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Centersquare Investment Management LLC raised its position in Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after purchasing an additional 281,582 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Lamar Advertising by 2.3% during the 2nd quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock worth $47,774,000 after acquiring an additional 8,857 shares during the last quarter. Csenge Advisory Group bought a new stake in Lamar Advertising during the 2nd quarter worth approximately $722,000. Natixis Advisors LLC increased its position in Lamar Advertising by 13.1% in the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock valued at $7,225,000 after acquiring an additional 6,979 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Lamar Advertising by 179.4% during the second quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock valued at $2,226,000 after acquiring an additional 11,967 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $128.94 on Wednesday. The stock’s 50 day moving average price is $131.84 and its two-hundred day moving average price is $123.08. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 26.01 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. Lamar Advertising has a 52-week low of $91.20 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 EPS. On average, equities analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

Wall Street Analyst Weigh In

LAMR has been the topic of several analyst reports. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. increased their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday. Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, TD Cowen boosted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.40.

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.