Intech Investment Management LLC Buys Shares of 19,158 Lamar Advertising (NASDAQ:LAMR)

Intech Investment Management LLC purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,158 shares of the real estate investment trust’s stock, valued at approximately $2,290,000.

Other hedge funds have also recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. purchased a new position in Lamar Advertising during the 1st quarter worth $25,000. Whittier Trust Co. increased its stake in shares of Lamar Advertising by 144.4% during 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 period. Fidelis Capital Partners LLC purchased a new position in Lamar Advertising during the first quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new stake in Lamar Advertising in the second quarter valued at about $30,000. Finally, Quarry LP boosted its holdings in Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 133 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LAMR shares. Citigroup cut 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. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company started coverage on shares of Lamar Advertising in a research note on Thursday. They set an “equal weight” rating and a $132.00 price target on the stock. TD Cowen raised their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $125.00.

Lamar Advertising Trading Up 1.5 %

Shares of LAMR stock opened at $133.54 on Monday. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $134.09. 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 business has a fifty day simple moving average of $121.49 and a 200-day simple moving average of $118.45. The stock has a market cap of $13.65 billion, a P/E ratio of 27.42 and a beta of 1.52.

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

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 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.