511 Shares in Lamar Advertising (NASDAQ:LAMR) Purchased by Eastern Bank

Eastern Bank bought a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 511 shares of the real estate investment trust’s stock, valued at approximately $68,000.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in 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 acquiring an additional 151 shares in the last quarter. Whittier Trust Co. lifted its stake in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Lamar Advertising during the 1st quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in Lamar Advertising during the 2nd quarter worth about $30,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Lamar Advertising during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LAMR. TD Cowen upped their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a report on Thursday, July 11th. Wells Fargo & Company began coverage on Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $125.00.

Lamar Advertising Trading Down 0.8 %

LAMR opened at $134.69 on Friday. Lamar Advertising has a one year low of $79.94 and a one year high of $139.88. The company has a market cap of $13.78 billion, a P/E ratio of 27.32 and a beta of 1.52. 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 business’s 50-day simple moving average is $129.56 and its 200-day simple moving average is $121.42.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter in the previous year, the company posted $1.90 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 113.59%.

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.