Legacy Financial Group LLC Buys New Stake in Lamar Advertising (NASDAQ:LAMR)

Legacy Financial Group LLC acquired a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,565 shares of the real estate investment trust’s stock, valued at approximately $312,000.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings 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 buying an additional 151 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Lamar Advertising during the third quarter worth $25,000. Concord Wealth Partners acquired a new stake in shares of Lamar Advertising during the third quarter worth $26,000. Assetmark Inc. raised its holdings in shares of Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the period. Finally, Versant Capital Management Inc grew its position in Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Up 1.4 %

Lamar Advertising stock opened at $128.10 on Monday. 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 12-month low of $102.10 and a 12-month high of $139.88. The firm’s fifty day moving average is $126.16 and its 200 day moving average is $126.33. The company has a market capitalization of $13.11 billion, a PE ratio of 25.62 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the previous year, the firm earned $2.04 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 annualized dividend and a yield of 4.37%. Lamar Advertising’s payout ratio is 112.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LAMR shares. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. TD Cowen boosted their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report 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 stock. Based on data from MarketBeat, Lamar Advertising has an average rating of “Hold” and a consensus target price of $132.40.

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.