Lamar Advertising (NASDAQ:LAMR) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in Lamar Advertising (NASDAQ:LAMR) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 418,705 shares of the real estate investment trust’s stock after selling 11,369 shares during the period. Envestnet Asset Management Inc. owned approximately 0.41% of Lamar Advertising worth $50,048,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LAMR. Financial Synergies Wealth Advisors Inc. purchased a new position in Lamar Advertising in the first quarter worth approximately $25,000. Whittier Trust Co. lifted its stake in Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Lamar Advertising in the first quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new position in Lamar Advertising in the second quarter worth approximately $30,000. Finally, Sound Income Strategies LLC lifted its stake in Lamar Advertising by 85.8% in 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. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.8 %

LAMR stock opened at $130.95 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 26.89 and a beta of 1.52. The company has a fifty day moving average price of $120.89 and a 200 day moving average price of $118.22. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $132.21.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 earnings per share. Sell-side analysts expect 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 will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be paid a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s payout ratio is currently 114.99%.

Analyst Upgrades and Downgrades

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

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.