Coastline Trust Co Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Coastline Trust Co bought a new stake in Lamar Advertising (NASDAQ:LAMR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the real estate investment trust’s stock, valued at approximately $134,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in 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 acquiring an additional 151 shares during the last quarter. Concord Wealth Partners purchased a new position in Lamar Advertising in the third quarter valued at approximately $26,000. Whittier Trust Co. grew its holdings in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Assetmark Inc. increased its position in Lamar Advertising by 109.3% in the third 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, MFA Wealth Advisors LLC bought a new stake in shares of Lamar Advertising in the second quarter valued at $30,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LAMR shares. TD Cowen lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on shares of 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Price Performance

LAMR stock opened at $126.35 on Friday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. The firm has a market cap of $12.93 billion, a P/E ratio of 25.27 and a beta of 1.52. The firm’s fifty day moving average is $132.11 and its 200 day moving average is $123.32. Lamar Advertising has a 52 week low of $95.83 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data 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). The company had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 EPS. Research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.43%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

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.