Bleakley Financial Group LLC Decreases Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Bleakley Financial Group LLC lowered its holdings in Lamar Advertising (NASDAQ:LAMR) by 76.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,491 shares of the real estate investment trust’s stock after selling 21,177 shares during the period. Bleakley Financial Group LLC’s holdings in Lamar Advertising were worth $867,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in Lamar Advertising in the 1st quarter valued at $25,000. Whittier Trust Co. raised its holdings in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares during the period. Fidelis Capital Partners LLC acquired a new position in Lamar Advertising during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new position in Lamar Advertising in the 2nd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC grew its position 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 valued at $37,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of LAMR opened at $136.15 on Monday. The firm has a market cap of $13.92 billion, a PE ratio of 27.96 and a beta of 1.52. The firm’s 50 day moving average price is $127.80 and its 200 day moving average price is $120.79. 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 twelve month low of $79.94 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted 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). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. 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 4.11%. Lamar Advertising’s dividend payout ratio (DPR) is presently 114.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on LAMR. TD Cowen boosted their target price 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. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company began coverage on Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. JPMorgan Chase & Co. lifted 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. Finally, Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.00.

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.