Semmax Financial Advisors Inc. Has $4.25 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Semmax Financial Advisors Inc. raised its holdings in Lamar Advertising (NASDAQ:LAMR) by 9.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,083 shares of the real estate investment trust’s stock after acquiring an additional 3,094 shares during the quarter. Lamar Advertising makes up about 1.3% of Semmax Financial Advisors Inc.’s portfolio, making the stock its 25th largest holding. Semmax Financial Advisors Inc.’s holdings in Lamar Advertising were worth $4,251,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Financial Synergies Wealth Advisors Inc. acquired a new position in Lamar Advertising during the 1st quarter worth about $25,000. Whittier Trust Co. boosted its holdings in Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Lamar Advertising during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising during the second quarter worth $30,000. Finally, Quarry LP boosted its position in Lamar Advertising by 70.4% during the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analysts Set New Price Targets

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

Lamar Advertising Stock Up 1.3 %

LAMR opened at $135.23 on Tuesday. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $137.40. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The company’s 50-day moving average is $121.84 and its 200 day moving average is $118.55. The firm has a market capitalization of $13.83 billion, a P/E ratio of 27.77 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced 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 business had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. Lamar Advertising’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. Research analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 114.99%.

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.