Creative Planning Increases Holdings in Lamar Advertising (NASDAQ:LAMR)

Creative Planning lifted its holdings in Lamar Advertising (NASDAQ:LAMR) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,011 shares of the real estate investment trust’s stock after acquiring an additional 131 shares during the period. Creative Planning’s holdings in Lamar Advertising were worth $1,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Whittier Trust Co. raised its position in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Lamar Advertising during the 1st quarter valued at $27,000. MFA Wealth Advisors LLC bought a new stake in Lamar Advertising in the second quarter worth $30,000. Ashton Thomas Private Wealth LLC purchased a new position in Lamar Advertising during the second quarter worth $45,000. Finally, GAMMA Investing LLC increased its position in Lamar Advertising by 112.4% during the second quarter. GAMMA Investing LLC now owns 410 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $134.66 on Wednesday. Lamar Advertising has a fifty-two week low of $80.33 and a fifty-two week high of $139.88. The company has a market capitalization of $13.77 billion, a PE ratio of 27.69 and a beta of 1.52. The company has a 50 day moving average price of $129.86 and a 200-day moving average price of $121.68. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last issued its 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 net margin of 23.34% and a return on equity of 42.18%. 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 firm earned $1.90 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.16%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is presently 114.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective 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. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research note on Thursday, July 11th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company started coverage on Lamar Advertising in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.00.

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.