Lamar Advertising (NASDAQ:LAMR) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. decreased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,857 shares of the real estate investment trust’s stock after selling 248 shares during the period. Foster & Motley Inc.’s holdings in Lamar Advertising were worth $382,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LAMR. Massachusetts Financial Services Co. MA increased its stake 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 valued at $112,052,000 after buying an additional 420,311 shares during the period. International Assets Investment Management LLC grew its stake in shares of Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after purchasing an additional 284,523 shares during the last quarter. Centersquare Investment Management LLC grew its stake in shares of Lamar Advertising by 82.8% in the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after purchasing an additional 281,582 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Lamar Advertising by 42,096.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust’s stock worth $16,856,000 after purchasing an additional 125,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Lamar Advertising by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after purchasing an additional 75,955 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR opened at $134.99 on Friday. Lamar Advertising has a one year low of $91.20 and a one year high of $139.88. The company has a 50-day moving average of $131.69 and a two-hundred day moving average of $122.74. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 27.38 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41.

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

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a dividend of $1.40 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 113.59%.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several recent research reports. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research note on Thursday, July 11th. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective on the stock. JPMorgan Chase & Co. raised their target price 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. Finally, TD Cowen raised their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $125.00.

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.