Integrated Advisors Network LLC Takes Position in Lamar Advertising (NASDAQ:LAMR)

Integrated Advisors Network LLC bought a new stake in shares of Lamar Advertising (NASDAQ:LAMR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,494 shares of the real estate investment trust’s stock, valued at approximately $467,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position 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 purchasing an additional 68,484 shares in the last quarter. DAVENPORT & Co LLC grew its stake 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 buying an additional 7,794 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 valued at $159,283,000 after buying an additional 75,955 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Lamar Advertising by 81.3% in the second 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 last quarter. Finally, Centersquare Investment Management LLC raised its stake in 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 during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 1.5 %

LAMR stock opened at $132.00 on Friday. The company has a market capitalization of $13.50 billion, a P/E ratio of 26.77 and a beta of 1.52. Lamar Advertising has a 12 month low of $80.59 and a 12 month high of $139.88. The firm’s fifty day simple moving average is $130.72 and its 200-day simple moving average is $121.99. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. As a group, equities research analysts forecast that Lamar Advertising will post 7.75 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. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.24%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 113.59%.

Analyst Ratings Changes

LAMR has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Thursday, July 11th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, TD Cowen raised their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and an average target price of $125.00.

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.