Principle Wealth Partners LLC Purchases 400 Shares of Lamar Advertising (NASDAQ:LAMR)

Principle Wealth Partners LLC lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,340 shares of the real estate investment trust’s stock after acquiring an additional 400 shares during the quarter. Principle Wealth Partners LLC’s holdings in Lamar Advertising were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stephens Inc. AR raised its position in shares of Lamar Advertising by 7.4% during the fourth quarter. Stephens Inc. AR now owns 28,806 shares of the real estate investment trust’s stock worth $3,507,000 after acquiring an additional 1,982 shares during the last quarter. Empowered Funds LLC raised its position in shares of Lamar Advertising by 85.8% during the fourth quarter. Empowered Funds LLC now owns 31,155 shares of the real estate investment trust’s stock worth $3,793,000 after acquiring an additional 14,390 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its position in shares of Lamar Advertising by 1.2% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 20,574 shares of the real estate investment trust’s stock worth $2,505,000 after acquiring an additional 242 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Lamar Advertising by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,413 shares of the real estate investment trust’s stock worth $2,242,000 after acquiring an additional 1,596 shares during the last quarter. Finally, Hedeker Wealth LLC raised its position in shares of Lamar Advertising by 1.5% during the fourth quarter. Hedeker Wealth LLC now owns 17,962 shares of the real estate investment trust’s stock worth $2,187,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 1.1 %

Shares of Lamar Advertising stock opened at $126.75 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12 month low of $102.10 and a 12 month high of $139.88. The business has a fifty day simple moving average of $125.13 and a 200 day simple moving average of $126.90. The stock has a market cap of $12.97 billion, a PE ratio of 25.35 and a beta of 1.51.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.42%. Lamar Advertising’s payout ratio is 112.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. TD Cowen boosted their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company decreased their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Morgan Stanley lifted their price objective 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. Finally, StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating 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 company’s stock. According to data from MarketBeat, Lamar Advertising currently has an average rating of “Hold” and an average price target of $132.40.

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.