Bleakley Financial Group LLC Sells 21,177 Shares of Lamar Advertising (NASDAQ:LAMR)

Bleakley Financial Group LLC lowered its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 76.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,491 shares of the real estate investment trust’s stock after selling 21,177 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lamar Advertising were worth $867,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LAMR. Massachusetts Financial Services Co. MA grew its stake in shares of Lamar Advertising by 81.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after acquiring an additional 420,311 shares in the last quarter. Centersquare Investment Management LLC grew its position in shares of 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. Dimensional Fund Advisors LP increased its position in Lamar Advertising by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares during the period. Vanguard Group Inc. raised its position in shares of Lamar Advertising by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock valued at $1,517,554,000 after buying an additional 68,484 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Lamar Advertising by 79.1% in the 1st quarter. Russell Investments Group Ltd. now owns 123,138 shares of the real estate investment trust’s stock valued at $14,703,000 after acquiring an additional 54,390 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.1 %

Lamar Advertising stock opened at $136.15 on Monday. Lamar Advertising has a fifty-two week low of $79.94 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market cap of $13.92 billion, a P/E ratio of 27.96 and a beta of 1.52. The firm’s fifty day moving average price is $127.80 and its 200-day moving average price is $120.79.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The company had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. Equities research analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed 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 represents a $5.60 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is 114.99%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research report on Thursday, July 11th. Wells Fargo & Company initiated coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, TD Cowen lifted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $125.00.

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.