Choreo LLC Takes Position in Lamar Advertising (NASDAQ:LAMR)

Choreo LLC bought a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,651 shares of the real estate investment trust’s stock, valued at approximately $314,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of Lamar Advertising during the first quarter worth $25,000. Whittier Trust Co. lifted its holdings in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Lamar Advertising in the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising in the second quarter valued at about $30,000. Finally, Sound Income Strategies LLC raised its position in shares of Lamar Advertising by 85.8% during the first quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 145 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several analyst reports. TD Cowen upped their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.25.

Lamar Advertising Stock Down 1.0 %

Shares of NASDAQ LAMR opened at $129.86 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The firm has a market cap of $13.28 billion, a PE ratio of 26.67 and a beta of 1.52. The company’s fifty day simple moving average is $120.62 and its 200 day simple moving average is $118.13. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $132.21.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the prior year, the business earned $1.90 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.31%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is presently 114.99%.

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.