Wealthspire Advisors LLC Has $894,000 Stake in Lamar Advertising (NASDAQ:LAMR)

Wealthspire Advisors LLC grew its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,347 shares of the real estate investment trust’s stock after buying an additional 140 shares during the period. Wealthspire Advisors LLC’s holdings in Lamar Advertising were worth $894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LAMR. Wellington Management Group LLP increased its position in shares of Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after buying an additional 617,356 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Lamar Advertising in the third quarter valued at about $43,665,000. International Assets Investment Management LLC increased its holdings in shares of Lamar Advertising by 49,140.4% in the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after acquiring an additional 284,523 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Lamar Advertising by 148.9% during the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock worth $58,058,000 after purchasing an additional 259,979 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of Lamar Advertising by 631.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust’s stock valued at $24,088,000 after purchasing an additional 155,656 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $125.43 on Wednesday. Lamar Advertising has a 12 month low of $107.22 and a 12 month high of $139.88. The company’s fifty day simple moving average is $124.47 and its 200-day simple moving average is $127.64. The firm has a market cap of $12.84 billion, a PE ratio of 35.53 and a beta of 1.51. 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 (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Equities research analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.94%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is currently 175.64%.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of research reports. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Citigroup boosted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report 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 note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $134.60.

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.