Foundations Investment Advisors LLC Buys 162 Shares of Lamar Advertising (NASDAQ:LAMR)

Foundations Investment Advisors LLC increased its stake in Lamar Advertising (NASDAQ:LAMR) by 4.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,664 shares of the real estate investment trust’s stock after acquiring an additional 162 shares during the period. Foundations Investment Advisors LLC’s holdings in Lamar Advertising were worth $438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LAMR. Wellington Management Group LLP bought a new position in shares of Lamar Advertising in the 4th quarter worth approximately $111,255,000. Morningstar Investment Services LLC raised its holdings in Lamar Advertising by 97.6% in the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after purchasing an additional 451,429 shares in the last quarter. Paralel Advisors LLC purchased a new position in Lamar Advertising during the fourth quarter valued at $3,950,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lamar Advertising by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after buying an additional 30,567 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in shares of Lamar Advertising by 82.8% in the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after acquiring an additional 281,582 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Trading Down 1.4 %

Shares of NASDAQ LAMR opened at $122.63 on Friday. The firm’s 50 day moving average price is $119.46 and its 200-day moving average price is $117.25. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $126.80. 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 company has a market cap of $12.54 billion, a PE ratio of 25.18 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. On average, equities research analysts expect 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. The ex-dividend date is Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 4.57%. Lamar Advertising’s dividend payout ratio (DPR) is 114.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. 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 note on Wednesday, July 31st. TD Cowen upped their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Finally, Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.25.

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.