Lamar Advertising (NASDAQ:LAMR) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its position in Lamar Advertising (NASDAQ:LAMR) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,155 shares of the real estate investment trust’s stock after selling 97 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Lamar Advertising were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in LAMR. Blue Trust Inc. raised its stake in Lamar Advertising by 444.1% in 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 acquired a new position in Lamar Advertising in the 3rd quarter valued at $25,000. Whittier Trust Co. raised its stake in Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Concord Wealth Partners acquired a new position in Lamar Advertising in the 3rd quarter valued at $26,000. Finally, Assetmark Inc. raised its stake in Lamar Advertising by 109.3% in 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. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LAMR shares. Wells Fargo & Company reduced 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. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley raised 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. Finally, TD Cowen raised their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $122.99 on Friday. The stock has a market cap of $12.59 billion, a PE ratio of 24.60 and a beta of 1.50. Lamar Advertising has a twelve month low of $100.15 and a twelve month high of $139.88. The stock has a fifty day simple moving average of $131.48 and a 200-day simple moving average of $125.28. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 earnings per share. Equities analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $5.60 annualized dividend and a yield of 4.55%. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

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.