Foundations Investment Advisors LLC Increases Stake in Lamar Advertising (NASDAQ:LAMR)

Foundations Investment Advisors LLC boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,744 shares of the real estate investment trust’s stock after buying an additional 80 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Lamar Advertising were worth $500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares in the last quarter. Whittier Trust Co. grew its holdings in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Lamar Advertising in the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at approximately $30,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Lamar Advertising in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

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

Lamar Advertising Trading Down 0.8 %

NASDAQ:LAMR opened at $134.69 on Friday. 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 $79.94 and a 52-week high of $139.88. The stock’s 50 day moving average price is $129.56 and its 200 day moving average price is $121.42. The company has a market capitalization of $13.78 billion, a PE ratio of 27.32 and a beta of 1.52.

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 business had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. On average, research analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.16%. Lamar Advertising’s dividend payout ratio is 113.59%.

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.