Stifel Financial Corp Decreases Stake in Lamar Advertising (NASDAQ:LAMR)

Stifel Financial Corp lessened its stake in Lamar Advertising (NASDAQ:LAMR) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,422 shares of the real estate investment trust’s stock after selling 1,267 shares during the quarter. Stifel Financial Corp’s holdings in Lamar Advertising were worth $4,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LAMR. Blue Trust Inc. grew its position in Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Lamar Advertising in the 3rd quarter worth approximately $25,000. Whittier Trust Co. increased its stake in Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. Concord Wealth Partners acquired a new position in Lamar Advertising during the third quarter worth $26,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lamar Advertising during the second quarter worth $30,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $129.00 on Monday. 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 company has a market cap of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50. The company has a 50-day simple moving average of $132.21 and a 200-day simple moving average of $125.05. Lamar Advertising has a 12 month low of $100.15 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results 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). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same period in the previous year, the firm posted $2.04 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $5.60 annualized dividend and a yield of 4.34%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Morgan Stanley upped their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $132.40.

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.