Invst LLC Lowers Holdings in Lamar Advertising (NASDAQ:LAMR)

Invst LLC lowered its position in Lamar Advertising (NASDAQ:LAMR) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,144 shares of the real estate investment trust’s stock after selling 287 shares during the quarter. Invst LLC’s holdings in Lamar Advertising were worth $725,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. SPC Financial Inc. lifted its position in shares of Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 103 shares during the period. Woodward Diversified Capital LLC raised its stake in Lamar Advertising by 2.6% in the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 113 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Lamar Advertising by 1.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 114 shares during the period. Simplicity Wealth LLC boosted its position in Lamar Advertising by 0.4% during the 2nd quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock valued at $3,301,000 after acquiring an additional 121 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Lamar Advertising by 1.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock valued at $846,000 after acquiring an additional 123 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LAMR has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price objective for the company. JPMorgan Chase & Co. raised their price target 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. TD Cowen lifted 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. Finally, Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $125.00.

Lamar Advertising Stock Performance

LAMR opened at $133.60 on Tuesday. The firm’s 50-day moving average price is $122.94 and its 200-day moving average price is $119.01. The company has a market cap of $13.66 billion, a P/E ratio of 27.43 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $137.40.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly 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 company had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. As a group, equities analysts anticipate that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

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