Lamar Advertising (NASDAQ:LAMR) Position Increased by Carmel Capital Partners LLC

Carmel Capital Partners LLC raised its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 4.9% in the 3rd quarter, Holdings Channel reports. The firm owned 3,979 shares of the real estate investment trust’s stock after purchasing an additional 185 shares during the quarter. Carmel Capital Partners LLC’s holdings in Lamar Advertising were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings 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 acquiring an additional 151 shares during the period. Whittier Trust Co. raised its holdings in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the period. Concord Wealth Partners acquired a new stake in Lamar Advertising during the 3rd quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in Lamar Advertising during the 2nd quarter worth about $30,000. Finally, Assetmark Inc. increased its holdings in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the period. Institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company started coverage on Lamar Advertising in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective on the stock. TD Cowen lifted their price objective on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.00.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $128.58 on Friday. Lamar Advertising has a 12-month low of $91.20 and a 12-month high of $139.88. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 26.08 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 firm has a fifty day moving average of $131.75 and a 200-day moving average of $122.84.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) 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%. Lamar Advertising’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.90 EPS. On average, equities research analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.36%. Lamar Advertising’s dividend payout ratio is presently 113.59%.

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.