Marcum Wealth LLC Has $495,000 Stock Position in Lamar Advertising (NASDAQ:LAMR)

Marcum Wealth LLC reduced its position in shares of Lamar Advertising (NASDAQ:LAMR) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,704 shares of the real estate investment trust’s stock after selling 214 shares during the period. Marcum Wealth LLC’s holdings in Lamar Advertising were worth $495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brookstone Capital Management increased its stake in shares of Lamar Advertising by 25.8% in the 3rd quarter. Brookstone Capital Management now owns 2,863 shares of the real estate investment trust’s stock valued at $382,000 after buying an additional 587 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in Lamar Advertising by 1.0% in the third quarter. Dynamic Advisor Solutions LLC now owns 44,200 shares of the real estate investment trust’s stock worth $5,905,000 after purchasing an additional 424 shares during the period. Chesley Taft & Associates LLC lifted its holdings in Lamar Advertising by 2.7% during the third quarter. Chesley Taft & Associates LLC now owns 7,845 shares of the real estate investment trust’s stock worth $1,048,000 after acquiring an additional 205 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lamar Advertising by 41.5% during the 3rd quarter. GAMMA Investing LLC now owns 580 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 170 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Lamar Advertising by 32.0% during the third quarter. Handelsbanken Fonder AB now owns 25,981 shares of the real estate investment trust’s stock worth $3,471,000 after acquiring an additional 6,300 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on LAMR. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday. TD Cowen upped their price objective on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted 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. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Thursday, July 11th. Finally, Wells Fargo & Company started coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Price Performance

Shares of LAMR opened at $131.45 on Friday. Lamar Advertising has a 12-month low of $79.94 and a 12-month high of $137.40. The stock has a market cap of $13.44 billion, a P/E ratio of 26.99 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The business’s fifty day moving average is $125.17 and its 200 day moving average is $119.95.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 earnings per share. Sell-side analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 4.26%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is 114.99%.

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.