Dynamic Advisor Solutions LLC Purchases 424 Shares of Lamar Advertising (NASDAQ:LAMR)

Dynamic Advisor Solutions LLC raised its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,200 shares of the real estate investment trust’s stock after purchasing an additional 424 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Lamar Advertising were worth $5,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in LAMR. Schroder Investment Management Group raised its holdings in shares of Lamar Advertising by 1.4% in the fourth quarter. Schroder Investment Management Group now owns 254,251 shares of the real estate investment trust’s stock valued at $27,022,000 after acquiring an additional 3,520 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Lamar Advertising in the 4th quarter worth approximately $1,280,000. Clear Street Markets LLC bought a new position in shares of Lamar Advertising during the fourth quarter valued at approximately $159,000. Quarry LP increased its holdings in Lamar Advertising by 70.4% during the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 133 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in Lamar Advertising by 4.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 21,822 shares of the real estate investment trust’s stock worth $2,319,000 after buying an additional 853 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $132.93 on Wednesday. The company has a 50 day moving average price of $124.68 and a 200 day moving average price of $119.78. The firm has a market capitalization of $13.59 billion, a P/E ratio of 27.30 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 $77.79 and a 52 week high of $137.40.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly 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). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. During the same period in the prior year, the business posted $1.90 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared 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. This represents a $5.60 annualized dividend and a yield of 4.21%. The ex-dividend date was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is presently 114.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LAMR. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a report on Thursday, July 11th. 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 target price for the company. TD Cowen raised their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.