Thrivent Financial for Lutherans Has $3.79 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Thrivent Financial for Lutherans lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 27.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,382 shares of the real estate investment trust’s stock after buying an additional 6,034 shares during the period. Thrivent Financial for Lutherans’ holdings in Lamar Advertising were worth $3,792,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Lamar Advertising by 6.0% during 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 acquiring an additional 75,955 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 valued at $112,052,000 after buying an additional 420,311 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Lamar Advertising by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock worth $67,664,000 after buying an additional 22,382 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of Lamar Advertising by 2.0% during the third quarter. Boston Trust Walden Corp now owns 407,813 shares of the real estate investment trust’s stock worth $54,484,000 after buying an additional 8,135 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Lamar Advertising by 3.8% in the 2nd quarter. Raymond James & Associates now owns 370,275 shares of the real estate investment trust’s stock valued at $44,259,000 after acquiring an additional 13,444 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LAMR shares. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company cut their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Up 0.8 %

Shares of NASDAQ LAMR opened at $130.35 on Monday. The company’s 50 day moving average price is $132.41 and its 200-day moving average price is $123.77. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 52-week low of $97.54 and a 52-week high of $139.88. The company has a market capitalization of $13.34 billion, a P/E ratio of 26.07 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the previous year, the firm earned $2.04 EPS. Lamar Advertising’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.30%. Lamar Advertising’s payout ratio is 112.00%.

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.