Allspring Global Investments Holdings LLC Buys 2,274 Shares of Lamar Advertising (NASDAQ:LAMR)

Allspring Global Investments Holdings LLC lifted its stake in Lamar Advertising (NASDAQ:LAMR) by 84.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,970 shares of the real estate investment trust’s stock after acquiring an additional 2,274 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lamar Advertising were worth $664,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LAMR. Massachusetts Financial Services Co. MA raised its position in shares of Lamar Advertising by 81.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after buying an additional 420,311 shares in the last quarter. Centersquare Investment Management LLC raised its position in shares of Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after buying an additional 281,582 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lamar Advertising by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lamar Advertising by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after buying an additional 68,484 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Lamar Advertising by 79.1% in the first quarter. Russell Investments Group Ltd. now owns 123,138 shares of the real estate investment trust’s stock worth $14,703,000 after buying an additional 54,390 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LAMR shares. JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen raised their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research 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 research report on Thursday, July 11th. Wells Fargo & Company began coverage on Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. Finally, StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $125.00.

Lamar Advertising Stock Down 0.6 %

LAMR opened at $131.25 on Friday. The company has a market cap of $13.43 billion, a P/E ratio of 26.62 and a beta of 1.52. The business’s 50-day moving average price is $130.91 and its 200-day moving average price is $122.13. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 12 month low of $85.82 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its 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). The business had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 earnings per share. On average, equities analysts expect that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is presently 113.59%.

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.