Lamar Advertising Company (REIT) (NASDAQ: LAMR) Short interest rate down 19.1% in October

Lamar Advertising Company (REIT) (NASDAQ: LAMR) was the target of a sharp drop in short-term interest in October. As of October 29, there was short interest totaling 994,500 shares, a decrease of 19.1% from the October 14 total of 1,230,000 shares. About 1.2% of the company’s shares are sold short. Based on an average daily volume of 403,300 shares, the short-term interest rate is currently 2.5 days.

Separately, TheStreet upgraded Lamar Advertising‘s stock from a “c +” rating to a “b +” rating in a research report on Thursday, August 5.

LAMR traded at $ 2.20 during the midday session Friday, reaching $ 114.17. The company had a trading volume of 339,915 shares, compared to its average volume of 439,179. The company has a leverage ratio of 2.16, a quick ratio of 0.61, and a current ratio of 0. 61. The stock has a market cap of $ 11.56 billion, a PE ratio of 30.94 and a beta of 1.40. Lamar Advertising has a 12 month low of $ 75.57 and a 12 month high of $ 123.92. The company has a 50-day moving average price of $ 116.50 and a 200-day moving average price of $ 109.97.

Lamar Advertising (NASDAQ: LAMR) last released its results on Wednesday, November 3. The REIT reported earnings per share of $ 1.05 for the quarter, missing the Zacks’ consensus estimate of $ 1.15 of ($ 0.10). The company posted revenue of $ 476.89 million in the quarter, compared to $ 458.95 million expected by analysts. Lamar Advertising had a net margin of 21.70% and a return on equity of 30.75%. The company’s turnover increased 23.5% compared to the same quarter last year. In the same quarter of the previous year, the company achieved earnings per share of $ 1.32. On average, research analysts predict that Lamar Advertising will post 6.11 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, September 30. Investors of record on Monday, September 20, received a dividend of $ 1.00 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $ 0.75. This represents a dividend of $ 4.00 on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday September 17th. Lamar Advertising’s dividend payout ratio is currently 108.40%.

A number of hedge funds and other institutional investors have recently bought and sold shares in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Lamar Advertising shares during the 2nd quarter valued at $ 26,000. First Horizon Advisors Inc. purchased a new stake in Lamar Advertising in the second quarter valued at $ 31,000. Eagle Bay Advisors LLC purchased a new stake in Lamar Advertising shares in the second quarter for a value of approximately $ 32,000. Geneos Wealth Management Inc. increased its position in Lamar Advertising shares by 103.5% in the 3rd quarter. Geneos Wealth Management Inc. now owns 289 REITs worth $ 33,000 after purchasing 147 additional shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in Lamar Advertising shares in the third quarter for a value of approximately $ 35,000. Institutional investors and hedge funds hold 78.64% of the company’s shares.

Lamar Advertising Company Profile

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

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