Beese Fulmer Investment Management Inc. Has $2.51 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

Beese Fulmer Investment Management Inc. raised its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,574 shares of the real estate investment trust’s stock after purchasing an additional 242 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Lamar Advertising were worth $2,505,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Lamar Advertising by 9.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,413 shares of the real estate investment trust’s stock worth $2,242,000 after acquiring an additional 1,596 shares in the last quarter. Hedeker Wealth LLC lifted its position in shares of Lamar Advertising by 1.5% in the fourth quarter. Hedeker Wealth LLC now owns 17,962 shares of the real estate investment trust’s stock worth $2,187,000 after purchasing an additional 259 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Lamar Advertising by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 52,035 shares of the real estate investment trust’s stock worth $6,334,000 after purchasing an additional 248 shares during the period. Bleakley Financial Group LLC grew its position in Lamar Advertising by 27.4% during the fourth quarter. Bleakley Financial Group LLC now owns 8,267 shares of the real estate investment trust’s stock valued at $1,006,000 after purchasing an additional 1,776 shares in the last quarter. Finally, NovaPoint Capital LLC increased its stake in Lamar Advertising by 7.6% in the 4th quarter. NovaPoint Capital LLC now owns 3,777 shares of the real estate investment trust’s stock valued at $460,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on LAMR shares. Morgan Stanley boosted 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. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company dropped their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $126.55 on Friday. The stock has a market capitalization of $12.95 billion, a P/E ratio of 25.31 and a beta of 1.51. The business has a 50-day moving average of $125.51 and a two-hundred day moving average of $126.69. Lamar Advertising has a fifty-two week low of $102.10 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share 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 company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same quarter last year, the firm posted $2.04 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.43%. Lamar Advertising’s payout ratio is presently 112.00%.

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.