Lamar Advertising (NASDAQ:LAMR) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC lessened its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 43.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 358 shares of the real estate investment trust’s stock after selling 271 shares during the period. LGT Financial Advisors LLC’s holdings in Lamar Advertising were worth $48,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Lamar Advertising by 0.5% in the 1st 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 last quarter. Dimensional Fund Advisors LP boosted its position in Lamar Advertising by 6.0% in the second 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in Lamar Advertising by 81.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after buying an additional 420,311 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in 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 acquiring an additional 281,582 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Lamar Advertising by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock valued at $67,664,000 after acquiring an additional 22,382 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $132.14 on Thursday. 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 company’s fifty day moving average price is $131.48 and its 200 day moving average price is $122.65. The stock has a market capitalization of $13.52 billion, a P/E ratio of 26.80 and a beta of 1.52. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same quarter last year, the company earned $1.90 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company 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 represents a $5.60 annualized dividend and a dividend yield of 4.24%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 113.59%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a report on Thursday, July 11th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. TD Cowen boosted their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company began 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 objective on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.00.

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.