Concord Wealth Partners Buys Shares of 196 Lamar Advertising (NASDAQ:LAMR)

Concord Wealth Partners bought a new stake in Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 196 shares of the real estate investment trust’s stock, valued at approximately $26,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Lamar Advertising by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock valued at $1,517,554,000 after purchasing an additional 68,484 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Lamar Advertising by 0.4% in the 1st quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock valued at $210,889,000 after purchasing an additional 7,794 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lamar Advertising by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock valued at $159,283,000 after purchasing an additional 75,955 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Lamar Advertising by 81.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after purchasing an additional 420,311 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its position 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 valued at $72,031,000 after purchasing an additional 281,582 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Cowen upped their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research report on Thursday, July 11th. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company assumed coverage on Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Price Performance

Shares of LAMR opened at $134.66 on Wednesday. The company has a market cap of $13.77 billion, a P/E ratio of 27.65 and a beta of 1.52. The stock has a fifty 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 current ratio of 0.41 and a quick ratio of 0.41. Lamar Advertising has a 12 month low of $80.33 and a 12 month high of $139.88.

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

Lamar Advertising Increases Dividend

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

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.