Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC raised its position in Lamar Advertising (NASDAQ:LAMR) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,744 shares of the real estate investment trust’s stock after acquiring an additional 80 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Lamar Advertising were worth $500,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of LAMR. Vanguard Group Inc. increased its stake in shares of Lamar Advertising by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after acquiring an additional 68,484 shares during the period. DAVENPORT & Co LLC increased its position in Lamar Advertising by 0.4% during the 1st quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock worth $210,889,000 after purchasing an additional 7,794 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lamar Advertising by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 buying an additional 420,311 shares during the period. Finally, Centersquare Investment Management LLC boosted its stake in shares of Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after buying an additional 281,582 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

LAMR has been the subject of several research analyst reports. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price objective on the stock. TD Cowen lifted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised 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. Finally, Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on 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

Lamar Advertising stock opened at $134.69 on Friday. The stock has a market capitalization of $13.78 billion, a P/E ratio of 27.32 and a beta of 1.52. Lamar Advertising has a 12-month low of $79.94 and a 12-month high of $139.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The firm’s 50-day moving average is $129.56 and its two-hundred day moving average is $121.42.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. Equities analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 113.59%.

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.