Impact Partnership Wealth LLC Acquires 2,137 Shares of Lamar Advertising (NASDAQ:LAMR)

Impact Partnership Wealth LLC lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 67.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,312 shares of the real estate investment trust’s stock after acquiring an additional 2,137 shares during the period. Impact Partnership Wealth LLC’s holdings in Lamar Advertising were worth $710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LAMR. Vanguard Group Inc. boosted its stake in Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock valued at $1,517,554,000 after purchasing an additional 68,484 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Lamar Advertising by 0.4% during the first quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock worth $210,889,000 after buying an additional 7,794 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lamar Advertising by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after acquiring an additional 75,955 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Lamar Advertising by 81.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after purchasing an additional 420,311 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Lamar Advertising by 82.8% during the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after purchasing an additional 281,582 shares during the period. 93.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on LAMR. Wells Fargo & Company began coverage on Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen upped their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company 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 target price for the company. in a research note on Thursday, July 11th. Finally, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Price Performance

Shares of LAMR stock traded down $0.22 on Thursday, reaching $135.60. The company’s stock had a trading volume of 4,136 shares, compared to its average volume of 401,321. Lamar Advertising has a 12-month low of $79.94 and a 12-month high of $139.88. The stock’s 50 day simple moving average is $128.91 and its 200-day simple moving average is $121.19. 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 company has a market capitalization of $13.86 billion, a P/E ratio of 27.89 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. During the same period in the prior year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.13%. 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.