Avior Wealth Management LLC Decreases Position in Lamar Advertising (NASDAQ:LAMR)

Avior Wealth Management LLC decreased its stake in Lamar Advertising (NASDAQ:LAMR) by 47.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 500 shares of the real estate investment trust’s stock after selling 450 shares during the quarter. Avior Wealth Management LLC’s holdings in Lamar Advertising were worth $67,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Boston Trust Walden Corp lifted its stake in shares of Lamar Advertising by 2.3% in the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock worth $47,774,000 after acquiring an additional 8,857 shares in the last quarter. Csenge Advisory Group acquired a new position in shares of Lamar Advertising in the second quarter worth about $722,000. Natixis Advisors LLC lifted its stake in shares of Lamar Advertising by 13.1% in the second quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock worth $7,225,000 after acquiring an additional 6,979 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Lamar Advertising by 179.4% in the second quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock worth $2,226,000 after acquiring an additional 11,967 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Lamar Advertising in the third quarter worth about $43,665,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LAMR. TD Cowen boosted their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company cut their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Morgan Stanley upped their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Up 0.8 %

Shares of Lamar Advertising stock opened at $130.35 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The business’s 50 day simple moving average is $132.41 and its 200-day simple moving average is $123.77. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 26.07 and a beta of 1.52. Lamar Advertising has a twelve month low of $97.54 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities research analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.30%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Lamar Advertising Company 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.