Lamar Advertising (NASDAQ:LAMR) is Hamlin Capital Management LLC’s 8th Largest Position

Hamlin Capital Management LLC reduced its position in Lamar Advertising (NASDAQ:LAMR) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,272,149 shares of the real estate investment trust’s stock after selling 57,952 shares during the quarter. Lamar Advertising comprises approximately 4.3% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Hamlin Capital Management LLC’s holdings in Lamar Advertising were worth $169,959,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Park Avenue Securities LLC boosted its position in shares of Lamar Advertising by 12.7% in the 1st quarter. Park Avenue Securities LLC now owns 2,865 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 323 shares in the last quarter. Brookstone Capital Management purchased a new stake in Lamar Advertising in the first quarter valued at about $300,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Lamar Advertising by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,487 shares of the real estate investment trust’s stock worth $4,118,000 after acquiring an additional 1,144 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Lamar Advertising by 25.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,628 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 535 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Lamar Advertising by 2.4% during the first quarter. State of Michigan Retirement System now owns 21,538 shares of the real estate investment trust’s stock worth $2,572,000 after acquiring an additional 500 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LAMR shares. TD Cowen increased their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price objective for the company. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $125.00.

Lamar Advertising Stock Down 0.8 %

LAMR stock opened at $134.69 on Friday. The company has a market capitalization of $13.78 billion, a P/E ratio of 27.32 and a beta of 1.52. Lamar Advertising has a 12 month low of $79.94 and a 12 month high of $139.88. The firm’s fifty day simple moving average is $129.56 and its 200-day simple moving average is $121.46. 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 (NASDAQ:LAMR) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The business had revenue of $565.25 million for 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. As a group, 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 issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.16%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is 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.