Harbour Investments Inc. Increases Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Harbour Investments Inc. raised its holdings in Lamar Advertising (NASDAQ:LAMR) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 878 shares of the real estate investment trust’s stock after buying an additional 95 shares during the quarter. Harbour Investments Inc.’s holdings in Lamar Advertising were worth $107,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LAMR. Brooklyn Investment Group purchased a new position in shares of Lamar Advertising in the 3rd quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new position in shares of Lamar Advertising in the fourth quarter worth $25,000. Blue Trust Inc. lifted its stake in shares of Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 108 shares during the period. Versant Capital Management Inc grew its holdings in shares of Lamar Advertising by 46.6% during the fourth 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 last quarter. Finally, Avior Wealth Management LLC increased its position in shares of 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 acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $111.19 on Monday. The firm has a market capitalization of $11.39 billion, a P/E ratio of 31.50 and a beta of 1.53. The stock has a 50-day simple moving average of $123.20 and a two-hundred day simple moving average of $127.33. 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 has a fifty-two week low of $108.80 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.58%. The ex-dividend date is Friday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is currently 175.64%.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup lifted their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.60.

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.