Lamar Advertising (NASDAQ:LAMR) Stock Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in Lamar Advertising (NASDAQ:LAMR) by 4.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 309,032 shares of the real estate investment trust’s stock after buying an additional 14,575 shares during the quarter. Federated Hermes Inc. owned approximately 0.30% of Lamar Advertising worth $36,939,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Lamar Advertising in the 1st quarter worth about $25,000. Whittier Trust Co. lifted its position in Lamar Advertising by 144.4% in the 2nd 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 last quarter. Fidelis Capital Partners LLC bought a new stake in Lamar Advertising in the 1st quarter valued at about $27,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Lamar Advertising in the 4th quarter valued at about $30,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lamar Advertising in the 2nd quarter valued at about $30,000. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR opened at $129.44 on Friday. The firm’s 50 day moving average is $120.15 and its 200-day moving average is $117.79. The stock has a market capitalization of $13.24 billion, a P/E ratio of 26.58 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $129.51.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million during 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 period last year, the business earned $1.90 earnings per share. Equities research analysts anticipate that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be given a $1.40 dividend. 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 4.33%. The ex-dividend date is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

Analyst Ratings Changes

LAMR has been the topic of several recent research reports. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research report on Thursday, July 11th. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. JPMorgan Chase & Co. lifted their price objective 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, TD Cowen lifted their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Lamar Advertising presently 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.