Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC increased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 3.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,249 shares of the real estate investment trust’s stock after acquiring an additional 683 shares during the period. Inspire Investing LLC’s holdings in Lamar Advertising were worth $2,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. raised its holdings in shares of Lamar Advertising by 4.9% in the fourth quarter. Gilbert & Cook Inc. now owns 4,730 shares of the real estate investment trust’s stock worth $503,000 after acquiring an additional 219 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Lamar Advertising by 601.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,193 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 1,023 shares during the last quarter. Norges Bank acquired a new position in shares of Lamar Advertising in the fourth quarter worth $38,406,000. PNC Financial Services Group Inc. raised its holdings in shares of Lamar Advertising by 2.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,652 shares of the real estate investment trust’s stock worth $6,127,000 after acquiring an additional 1,643 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Lamar Advertising by 10.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,587 shares of the real estate investment trust’s stock worth $381,000 after acquiring an additional 353 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $130.95 on Thursday. The company has a market cap of $13.39 billion, a P/E ratio of 26.89 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 $77.21 and a 52 week high of $132.21. The business has a fifty day simple moving average of $120.89 and a 200-day simple moving average of $118.22.

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 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 analysts’ expectations of $564.96 million. During the same period last year, the firm posted $1.90 EPS. Lamar Advertising’s revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast 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 will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is 114.99%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LAMR shares. TD Cowen boosted their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Finally, Wells Fargo & Company started coverage on Lamar Advertising in a research report on Thursday. They issued an “equal weight” rating and a $132.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.