Lamar Advertising (NASDAQ:LAMR) is Palouse Capital Management Inc.’s 7th Largest Position

Palouse Capital Management Inc. lowered its position in Lamar Advertising (NASDAQ:LAMR) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,668 shares of the real estate investment trust’s stock after selling 735 shares during the quarter. Lamar Advertising comprises about 2.6% of Palouse Capital Management Inc.’s portfolio, making the stock its 7th largest position. Palouse Capital Management Inc.’s holdings in Lamar Advertising were worth $3,905,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LAMR. Financial Synergies Wealth Advisors Inc. bought a new position in Lamar Advertising in the 1st quarter valued at $25,000. Whittier Trust Co. increased its stake in Lamar Advertising by 144.4% in 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 Lamar Advertising during the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC purchased a new stake in Lamar Advertising in the 2nd quarter valued at about $30,000. Finally, Sound Income Strategies LLC grew its stake in Lamar Advertising by 85.8% in the 1st 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 in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.8 %

Lamar Advertising stock opened at $130.95 on Thursday. 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 $13.39 billion, a P/E ratio of 26.89 and a beta of 1.52. The business has a fifty day moving average of $120.89 and a two-hundred day moving average of $118.22. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $132.21.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter last year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be issued a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

Wall Street Analyst Weigh In

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

Lamar Advertising Company 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.