Private Advisor Group LLC Grows Stock Position in Lamar Advertising (NASDAQ:LAMR)

Private Advisor Group LLC lifted its stake in Lamar Advertising (NASDAQ:LAMR) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,798 shares of the real estate investment trust’s stock after purchasing an additional 82 shares during the period. Private Advisor Group LLC’s holdings in Lamar Advertising were worth $1,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LAMR. Brookstone Capital Management purchased a new position in Lamar Advertising in the first quarter valued at $300,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Lamar Advertising by 3.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,487 shares of the real estate investment trust’s stock worth $4,118,000 after buying an additional 1,144 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Lamar Advertising by 25.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,628 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 535 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Lamar Advertising by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 21,538 shares of the real estate investment trust’s stock worth $2,572,000 after acquiring an additional 500 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Lamar Advertising by 0.6% during the 1st quarter. State of Alaska Department of Revenue now owns 50,947 shares of the real estate investment trust’s stock worth $6,082,000 after acquiring an additional 300 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Down 0.5 %

Shares of NASDAQ LAMR opened at $134.03 on Thursday. The stock has a market cap of $13.70 billion, a PE ratio of 27.52 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 $80.59 and a 52-week high of $139.88. The business has a 50-day moving average price of $130.47 and a 200 day moving average price of $121.92.

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 firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. Equities research analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current 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 paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.18%. Lamar Advertising’s dividend payout ratio is currently 114.99%.

Analyst Ratings Changes

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

Lamar Advertising Company 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.