Vanguard Personalized Indexing Management LLC Increases Stake in Lamar Advertising (NASDAQ:LAMR)

Vanguard Personalized Indexing Management LLC boosted its stake in Lamar Advertising (NASDAQ:LAMR) by 10.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,798 shares of the real estate investment trust’s stock after purchasing an additional 736 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Lamar Advertising were worth $931,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of LAMR. SPC Financial Inc. grew its stake in shares of Lamar Advertising by 3.6% during the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 103 shares during the period. Woodward Diversified Capital LLC increased its stake in Lamar Advertising by 2.6% during the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after acquiring an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Lamar Advertising by 1.8% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock worth $789,000 after purchasing an additional 114 shares during the period. Simplicity Wealth LLC lifted its stake in shares of Lamar Advertising by 0.4% in the 2nd quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock valued at $3,301,000 after purchasing an additional 121 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Lamar Advertising by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Up 1.3 %

NASDAQ:LAMR opened at $135.23 on Tuesday. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 27.77 and a beta of 1.52. Lamar Advertising has a one year low of $77.21 and a one year high of $137.40. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The business’s 50-day simple moving average is $121.84 and its 200 day simple moving average is $118.55.

Lamar Advertising (NASDAQ:LAMR) last released its 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). 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. As a group, sell-side analysts predict that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 114.99%.

Analysts Set New Price Targets

LAMR has been the topic of several research reports. Wells Fargo & Company started coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target on the stock. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target 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, May 31st. TD Cowen upped their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four 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 company presently has an average rating of “Hold” and an average target price 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.