First PREMIER Bank Sells 200 Shares of Lamar Advertising (NASDAQ:LAMR)

First PREMIER Bank lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,651 shares of the real estate investment trust’s stock after selling 200 shares during the period. First PREMIER Bank’s holdings in Lamar Advertising were worth $1,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Lamar Advertising during the 1st quarter valued at $25,000. Whittier Trust Co. grew its position in 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 buying an additional 130 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Lamar Advertising in the 1st quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $30,000. Finally, Quarry LP raised its holdings in shares of 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 acquiring an additional 133 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LAMR. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. TD Cowen increased their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Citigroup lowered 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. Finally, 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 target for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Lamar Advertising has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $131.65 on Wednesday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. Lamar Advertising has a 52-week low of $79.17 and a 52-week high of $137.40. The company has a fifty day moving average of $124.68 and a 200-day moving average of $119.78. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 27.30 and a beta of 1.52.

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 the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Equities research analysts expect that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This is a positive change 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 4.25%. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s dividend 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.