Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $128.00 at Citigroup

Lamar Advertising (NASDAQ:LAMR) had its target price boosted by Citigroup from $121.76 to $128.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

LAMR has been the subject of a number of other reports. Morgan Stanley increased their price target 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. TD Cowen increased their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Lamar Advertising presently has an average rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $125.43 on Tuesday. The company has a market capitalization of $12.84 billion, a PE ratio of 35.53 and a beta of 1.51. The company has a 50-day simple moving average of $124.47 and a two-hundred day simple moving average of $127.64. Lamar Advertising has a one year low of $107.22 and a one year high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Research analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is 175.64%.

Institutional Investors Weigh In On Lamar Advertising

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning boosted its stake in shares of Lamar Advertising by 1.1% in the third quarter. Creative Planning now owns 12,011 shares of the real estate investment trust’s stock worth $1,605,000 after buying an additional 131 shares during the last quarter. Blue Trust Inc. boosted its position in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Lamar Advertising by 84.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,970 shares of the real estate investment trust’s stock worth $664,000 after purchasing an additional 2,274 shares during the period. Private Advisor Group LLC increased its holdings in shares of Lamar Advertising by 0.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock valued at $1,576,000 after purchasing an additional 82 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after purchasing an additional 284,523 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

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.