Farther Finance Advisors LLC Increases Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Farther Finance Advisors LLC increased its holdings in Lamar Advertising (NASDAQ:LAMR) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 975 shares of the real estate investment trust’s stock after acquiring an additional 184 shares during the quarter. Farther Finance Advisors LLC’s holdings in Lamar Advertising were worth $130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its holdings in shares of Lamar Advertising by 81.3% during 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 acquiring an additional 420,311 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Lamar Advertising by 49,140.4% during 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. Centersquare Investment Management LLC grew its stake in shares of Lamar Advertising by 82.8% during the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after purchasing an additional 281,582 shares during the period. Dimensional Fund Advisors LP lifted its position 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 valued at $159,283,000 after buying an additional 75,955 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock valued at $1,517,554,000 after buying an additional 68,484 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 topic of a number of analyst reports. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday. TD Cowen lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $130.04 on Tuesday. The company has a market cap of $13.30 billion, a P/E ratio of 26.01 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The business’s 50 day moving average price is $131.75 and its 200-day moving average price is $122.96. Lamar Advertising has a fifty-two week low of $91.20 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.04 EPS. Sell-side 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. Shareholders of record on Wednesday, September 18th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.31%. The ex-dividend date was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 112.00%.

Lamar Advertising Company 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.