Patriot Financial Group Insurance Agency LLC Raises Holdings in Lamar Advertising (NASDAQ:LAMR)

Patriot Financial Group Insurance Agency LLC lifted its stake in Lamar Advertising (NASDAQ:LAMR) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,474 shares of the real estate investment trust’s stock after purchasing an additional 345 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Lamar Advertising were worth $910,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in Lamar Advertising in the third quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in Lamar Advertising in the 3rd quarter worth approximately $26,000. Assetmark Inc. raised its position in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 143 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Trading Down 1.4 %

LAMR stock opened at $126.41 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 52-week low of $102.10 and a 52-week high of $139.88. The company’s 50-day simple moving average is $126.15 and its 200-day simple moving average is $126.47. The firm has a market cap of $12.94 billion, a P/E ratio of 25.28 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued 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 analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.04 earnings per share. As a group, equities analysts forecast that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio is presently 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.