Lamar Advertising (NASDAQ:LAMR) Holdings Lowered by Marcum Wealth LLC

Marcum Wealth LLC reduced its stake in Lamar Advertising (NASDAQ:LAMR) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,704 shares of the real estate investment trust’s stock after selling 214 shares during the period. Marcum Wealth LLC’s holdings in Lamar Advertising were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LAMR. Clear Street Markets LLC bought a new stake in Lamar Advertising in the fourth quarter worth about $159,000. Quarry LP lifted its stake in Lamar Advertising by 70.4% during the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Lamar Advertising by 4.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 21,822 shares of the real estate investment trust’s stock worth $2,319,000 after buying an additional 853 shares in the last quarter. Wellington Management Group LLP bought a new stake in Lamar Advertising during the fourth quarter worth approximately $111,255,000. Finally, PNC Financial Services Group Inc. grew its position in Lamar Advertising by 2.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,652 shares of the real estate investment trust’s stock worth $6,127,000 after buying an additional 1,643 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LAMR shares. JPMorgan Chase & Co. upped their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. TD Cowen raised their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note 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 on the stock. in a research note on Thursday, July 11th. Wells Fargo & Company began coverage on Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. Finally, StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday. Five 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, the company currently has an average rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $131.45 on Friday. Lamar Advertising has a one year low of $79.94 and a one year high of $137.40. The business’s 50-day moving average price is $125.17 and its two-hundred day moving average price is $119.95. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market capitalization of $13.44 billion, a P/E ratio of 26.99 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. During the same period in the previous year, the business posted $1.90 EPS. Lamar Advertising’s revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 114.99%.

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.