Lamar Advertising (NASDAQ:LAMR) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in Lamar Advertising (NASDAQ:LAMR) by 49,140.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 285,102 shares of the real estate investment trust’s stock after acquiring an additional 284,523 shares during the quarter. International Assets Investment Management LLC owned about 0.28% of Lamar Advertising worth $38,090,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Private Advisor Group LLC increased its position in Lamar Advertising by 0.7% during the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock worth $1,576,000 after purchasing an additional 82 shares during the last quarter. Segment Wealth Management LLC increased its stake in Lamar Advertising by 4.4% during the third quarter. Segment Wealth Management LLC now owns 2,903 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 123 shares during the last quarter. Eastern Bank purchased a new stake in Lamar Advertising in the third quarter valued at $68,000. Foundations Investment Advisors LLC lifted its stake in shares of Lamar Advertising by 2.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock valued at $500,000 after purchasing an additional 80 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Lamar Advertising by 84.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,970 shares of the real estate investment trust’s stock valued at $664,000 after purchasing an additional 2,274 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock opened at $134.84 on Tuesday. The business’s 50-day moving average is $129.56 and its two-hundred day moving average is $121.53. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. Lamar Advertising has a 1 year low of $80.33 and a 1 year high of $139.88. The firm has a market capitalization of $13.79 billion, a P/E ratio of 27.96 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 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same quarter last year, the firm earned $1.90 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.15%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is presently 114.99%.

Analysts Set New Price Targets

LAMR has been the topic of several research analyst reports. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a report on Thursday, July 11th. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen lifted their price objective on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company initiated coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $125.00.

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.