Wealth Enhancement Advisory Services LLC Acquires 926 Shares of Lamar Advertising (NASDAQ:LAMR)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 2.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,764 shares of the real estate investment trust’s stock after buying an additional 926 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Lamar Advertising were worth $4,778,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP raised its stake in Lamar Advertising by 106.3% during the third quarter. Allworth Financial LP now owns 947 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 488 shares in the last quarter. Impact Partnership Wealth LLC increased its position in Lamar Advertising by 67.3% during the 3rd quarter. Impact Partnership Wealth LLC now owns 5,312 shares of the real estate investment trust’s stock worth $710,000 after purchasing an additional 2,137 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Lamar Advertising by 1.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 16,066 shares of the real estate investment trust’s stock worth $2,146,000 after purchasing an additional 162 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after purchasing an additional 284,523 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Lamar Advertising by 0.7% in the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock valued at $1,576,000 after buying an additional 82 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Price Performance

Shares of LAMR opened at $132.00 on Friday. The business has a 50-day moving average of $130.72 and a 200-day moving average of $121.99. 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 has a market capitalization of $13.50 billion, a price-to-earnings ratio of 26.77 and a beta of 1.52. Lamar Advertising has a 1 year low of $80.59 and a 1 year high of $139.88.

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 (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. During the same quarter in the previous year, the business posted $1.90 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate 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 was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.24%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 113.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LAMR. TD Cowen upped their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.