Marks Group Wealth Management Inc Increases Stock Position in Lamar Advertising (NASDAQ:LAMR)

Marks Group Wealth Management Inc increased its position in Lamar Advertising (NASDAQ:LAMR) by 29.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,606 shares of the real estate investment trust’s stock after buying an additional 3,983 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Lamar Advertising were worth $2,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its stake in shares of Lamar Advertising by 2.2% during the third quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock valued at $500,000 after acquiring an additional 80 shares in the last quarter. Private Advisor Group LLC boosted its stake in Lamar Advertising by 0.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock valued at $1,576,000 after acquiring an additional 82 shares during the last quarter. Jamison Private Wealth Management Inc. grew its holdings in Lamar Advertising by 6.6% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 84 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Lamar Advertising by 1.0% in the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock worth $1,329,000 after purchasing an additional 97 shares during the last quarter. Finally, SPC Financial Inc. raised its stake in shares of Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on LAMR shares. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased 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. TD Cowen raised their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup downgraded 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 report on Thursday, July 11th. Finally, Wells Fargo & Company started 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 target on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $125.00.

Lamar Advertising Trading Up 0.2 %

Lamar Advertising stock opened at $132.25 on Wednesday. The stock has a market capitalization of $13.53 billion, a PE ratio of 26.83 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 has a 12-month low of $91.20 and a 12-month high of $139.88. The firm has a 50 day simple moving average of $131.29 and a 200-day simple moving average of $122.59.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 EPS. As a group, equities research analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.23%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 113.59%.

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.