Hedeker Wealth LLC Increases Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Hedeker Wealth LLC raised its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,962 shares of the real estate investment trust’s stock after purchasing an additional 259 shares during the quarter. Hedeker Wealth LLC’s holdings in Lamar Advertising were worth $2,187,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LAMR. Blue Trust Inc. grew its stake in Lamar Advertising by 444.1% during the 3rd 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 during the last quarter. Brooklyn Investment Group purchased a new stake in Lamar Advertising during the 3rd quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in Lamar Advertising during the 3rd quarter valued at about $26,000. Assetmark Inc. grew its stake in Lamar Advertising by 109.3% during 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 last quarter. Finally, Versant Capital Management Inc grew its stake in Lamar Advertising by 46.6% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

LAMR has been the topic of several research analyst reports. TD Cowen boosted their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. 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 lowered their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $126.55 on Friday. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 25.31 and a beta of 1.51. Lamar Advertising has a twelve month low of $102.10 and a twelve month high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a 50-day moving average of $125.51 and a 200 day moving average of $126.69.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million during the quarter, compared to analyst estimates 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 for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 EPS. Sell-side analysts anticipate that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.43%. Lamar Advertising’s payout ratio is 112.00%.

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.