Semmax Financial Advisors Inc. Has $4.25 Million Position in Lamar Advertising (NASDAQ:LAMR)

Semmax Financial Advisors Inc. lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,083 shares of the real estate investment trust’s stock after buying an additional 3,094 shares during the period. Lamar Advertising comprises about 1.3% of Semmax Financial Advisors Inc.’s investment portfolio, making the stock its 25th largest holding. Semmax Financial Advisors Inc.’s holdings in Lamar Advertising were worth $4,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LAMR. Gilbert & Cook Inc. boosted its stake in shares of Lamar Advertising by 4.9% during the 4th quarter. Gilbert & Cook Inc. now owns 4,730 shares of the real estate investment trust’s stock worth $503,000 after buying an additional 219 shares during the last quarter. Norges Bank bought a new stake in shares of Lamar Advertising during the 4th quarter worth approximately $38,406,000. D.A. Davidson & CO. bought a new stake in Lamar Advertising during the fourth quarter worth $212,000. Franklin Resources Inc. grew its position in shares of Lamar Advertising by 94.5% in the 4th quarter. Franklin Resources Inc. now owns 62,390 shares of the real estate investment trust’s stock valued at $6,631,000 after acquiring an additional 30,311 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Lamar Advertising by 16.9% in the 4th quarter. Hsbc Holdings PLC now owns 38,544 shares of the real estate investment trust’s stock valued at $4,091,000 after purchasing an additional 5,571 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LAMR shares. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of 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 upped their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup downgraded shares of 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. Four 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 stock presently has an average rating of “Hold” and an average target price of $125.00.

Lamar Advertising Trading Up 1.3 %

LAMR opened at $135.23 on Tuesday. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 27.77 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 twelve month low of $77.21 and a twelve month high of $137.40. The company has a 50-day simple moving average of $121.84 and a 200 day simple moving average of $118.55.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $564.96 million. During the same period last year, the company posted $1.90 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be given a dividend of $1.40 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is currently 114.99%.

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.