Farther Finance Advisors LLC Boosts Position in Lamar Advertising (NASDAQ:LAMR)

Farther Finance Advisors LLC lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 24.7% during the 4th quarter, Holdings Channel reports. The fund owned 1,216 shares of the real estate investment trust’s stock after buying an additional 241 shares during the quarter. Farther Finance Advisors LLC’s holdings in Lamar Advertising were worth $148,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Lamar Advertising in the 3rd quarter valued at about $25,000. Rialto Wealth Management LLC purchased a new stake in Lamar Advertising in the 4th quarter valued at about $25,000. Blue Trust Inc. raised its holdings in Lamar Advertising by 58.4% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 108 shares during the period. Versant Capital Management Inc raised its holdings in Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 143 shares during the period. Finally, Avior Wealth Management LLC raised its holdings in Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on LAMR shares. Citigroup boosted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced 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 equities research 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 currently has an average rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $112.15 on Friday. The company has a market cap of $11.48 billion, a P/E ratio of 31.77 and a beta of 1.53. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50-day moving average of $123.35 and a two-hundred day moving average of $127.40. Lamar Advertising has a 1-year low of $108.80 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.53%. Lamar Advertising’s payout ratio is currently 175.64%.

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.