Proficio Capital Partners LLC Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Proficio Capital Partners LLC purchased a new position in Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 29,218 shares of the real estate investment trust’s stock, valued at approximately $3,557,000.

A number of other institutional investors have also made changes to their positions in LAMR. Janus Henderson Group PLC boosted its position in Lamar Advertising by 2.9% during the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after purchasing an additional 119,068 shares during the period. State Street Corp boosted its holdings in shares of Lamar Advertising by 0.8% during the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock worth $352,752,000 after buying an additional 21,852 shares during the period. Geode Capital Management LLC grew its stake in Lamar Advertising by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock valued at $274,595,000 after buying an additional 90,775 shares during the last quarter. Wellington Management Group LLP grew its stake in Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after buying an additional 617,356 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after acquiring an additional 90,933 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LAMR shares. JPMorgan Chase & Co. dropped their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Citigroup boosted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $113.57 on Tuesday. The business’s 50 day simple moving average is $123.73 and its 200 day simple moving average is $127.68. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 32.17 and a beta of 1.53. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Sell-side analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.46%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising’s payout ratio is presently 175.64%.

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.