Lamar Advertising (NASDAQ:LAMR) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in Lamar Advertising (NASDAQ:LAMR) by 49,140.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 285,102 shares of the real estate investment trust’s stock after purchasing an additional 284,523 shares during the period. International Assets Investment Management LLC’s holdings in Lamar Advertising were worth $38,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in LAMR. Private Advisor Group LLC grew its stake in Lamar Advertising by 0.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock worth $1,576,000 after buying an additional 82 shares during the last quarter. Segment Wealth Management LLC grew its position in Lamar Advertising by 4.4% during the 3rd quarter. Segment Wealth Management LLC now owns 2,903 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 123 shares during the last quarter. Eastern Bank acquired a new position in Lamar Advertising in the third quarter valued at $68,000. Foundations Investment Advisors LLC increased its stake in Lamar Advertising by 2.2% in the third quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock valued at $500,000 after purchasing an additional 80 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Lamar Advertising by 84.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,970 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 2,274 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on LAMR shares. Citigroup cut 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. JPMorgan Chase & Co. increased 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. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company began coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price for the company. Finally, TD Cowen boosted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $134.84 on Tuesday. The company has a market cap of $13.79 billion, a P/E ratio of 27.96 and a beta of 1.52. Lamar Advertising has a one year low of $80.33 and a one year high of $139.88. The business has a fifty day moving average of $129.56 and a two-hundred day moving average of $121.53. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41.

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

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

About Lamar Advertising

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.