Commonwealth Equity Services LLC Acquires 504 Shares of Lamar Advertising (NASDAQ:LAMR)

Commonwealth Equity Services LLC grew its position in shares of Lamar Advertising (NASDAQ:LAMR) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,173 shares of the real estate investment trust’s stock after buying an additional 504 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lamar Advertising were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LAMR. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Lamar Advertising during the 1st quarter valued at $25,000. Whittier Trust Co. lifted its position in 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 purchasing an additional 130 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Lamar Advertising during the first quarter valued at about $27,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Lamar Advertising in the fourth quarter worth about $30,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Lamar Advertising in the second quarter worth about $30,000. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Up 1.5 %

Shares of NASDAQ LAMR opened at $129.44 on Friday. 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 firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 26.58 and a beta of 1.52. The stock has a 50 day moving average price of $120.15 and a 200 day moving average price of $117.73. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $129.51.

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

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be issued a $1.40 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.33%. Lamar Advertising’s payout ratio is presently 106.78%.

Analyst Ratings Changes

LAMR has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research report on Thursday, July 11th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Finally, TD Cowen boosted their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.25.

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.