Lamar Advertising (NASDAQ:LAMR) Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. trimmed its holdings in Lamar Advertising (NASDAQ:LAMR) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,125 shares of the real estate investment trust’s stock after selling 235 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Lamar Advertising were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LAMR. Blue Trust Inc. raised its stake in shares of Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Lamar Advertising during the 3rd quarter worth $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Lamar Advertising in the 2nd quarter worth $30,000. Finally, Assetmark Inc. raised its position 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 purchasing an additional 117 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Down 0.6 %

Shares of NASDAQ LAMR opened at $126.35 on Monday. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 25.27 and a beta of 1.52. The business has a 50 day simple moving average of $132.11 and a 200 day simple moving average of $123.38. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. Lamar Advertising has a 52 week low of $95.83 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 earnings per share. On average, research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.43%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 112.00%.

Wall Street Analyst Weigh In

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

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.