Prime Capital Investment Advisors LLC Cuts Stake in Lamar Advertising (NASDAQ:LAMR)

Prime Capital Investment Advisors LLC cut its holdings in Lamar Advertising (NASDAQ:LAMR) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,499 shares of the real estate investment trust’s stock after selling 583 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Lamar Advertising were worth $3,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAMR. Centersquare Investment Management LLC grew its stake in Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after purchasing an additional 281,582 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Lamar Advertising by 2.3% during the 2nd quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock valued at $47,774,000 after purchasing an additional 8,857 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Lamar Advertising in the 2nd quarter worth $722,000. Natixis Advisors LLC grew its stake in Lamar Advertising by 13.1% during the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock worth $7,225,000 after buying an additional 6,979 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Lamar Advertising by 179.4% during the 2nd quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock valued at $2,226,000 after buying an additional 11,967 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $128.25 on Thursday. The company has a 50 day simple moving average of $131.93 and a two-hundred day simple moving average of $123.19. The stock has a market cap of $13.12 billion, a price-to-earnings ratio of 25.65 and a beta of 1.52. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12 month low of $94.71 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business 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%. Lamar Advertising’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 earnings per share. As a group, analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.37%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analysts Set New Price Targets

LAMR has been the subject of several recent analyst reports. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday. TD Cowen boosted their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company dropped their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $132.40.

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.