Lamar Advertising (NASDAQ:LAMR) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 27.8% in the 2nd quarter, Holdings Channel reports. The fund owned 20,549 shares of the real estate investment trust’s stock after buying an additional 4,464 shares during the period. Sei Investments Co.’s holdings in Lamar Advertising were worth $2,456,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Wellington Management Group LLP bought a new stake in Lamar Advertising during the 4th quarter valued at $111,255,000. Centersquare Investment Management LLC lifted its holdings in Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after purchasing an additional 281,582 shares during the period. Boston Trust Walden Corp grew its position in Lamar Advertising by 2.3% in the 2nd quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock valued at $47,774,000 after buying an additional 8,857 shares in the last quarter. Cibc World Markets Corp acquired a new position in Lamar Advertising during the 4th quarter valued at about $3,086,000. Finally, Csenge Advisory Group bought a new stake in shares of Lamar Advertising during the 2nd quarter worth about $722,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LAMR. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research note on Thursday, July 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday. TD Cowen boosted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research 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 company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Trading Up 1.0 %

Lamar Advertising stock opened at $132.61 on Friday. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $137.40. 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 firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 27.23 and a beta of 1.52. The company has a 50 day moving average price of $124.17 and a 200 day moving average price of $119.52.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same period last year, the business earned $1.90 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Research analysts forecast that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.22%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

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.