Duff & Phelps Investment Management Co. Grows Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Duff & Phelps Investment Management Co. grew its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 631.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 180,296 shares of the real estate investment trust’s stock after acquiring an additional 155,656 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Lamar Advertising were worth $24,088,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LAMR. Blue Trust Inc. boosted its stake in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new position in shares of Lamar Advertising during the third quarter valued at approximately $25,000. Whittier Trust Co. grew its stake in shares of Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising in the third quarter worth approximately $26,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lamar Advertising during the 2nd quarter worth approximately $30,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $131.22 on Monday. The stock’s 50-day moving average is $132.46 and its 200 day moving average is $124.72. Lamar Advertising has a 1-year low of $100.15 and a 1-year high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $13.43 billion, a P/E ratio of 26.24 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $2.04 earnings per share. Research analysts predict that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.27%. Lamar Advertising’s dividend payout ratio is currently 112.00%.

Analysts Set New Price Targets

LAMR has been the topic of a number of recent analyst reports. TD Cowen increased 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. Wells Fargo & Company decreased their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.