Lamar Advertising (NASDAQ:LAMR) Stock Position Lifted by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in Lamar Advertising (NASDAQ:LAMR) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 646,266 shares of the real estate investment trust’s stock after purchasing an additional 19,316 shares during the quarter. HighTower Advisors LLC owned 0.63% of Lamar Advertising worth $78,676,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of LAMR. Carmel Capital Partners LLC lifted its holdings in shares of Lamar Advertising by 2.0% in the fourth quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 81 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Lamar Advertising by 0.4% in the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust’s stock valued at $2,442,000 after buying an additional 82 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 84 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Lamar Advertising by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 85 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Lamar Advertising by 14.7% during the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 2.1 %

LAMR opened at $114.26 on Thursday. Lamar Advertising has a fifty-two week low of $108.80 and a fifty-two week high of $139.88. The business has a 50-day moving average of $124.30 and a 200-day moving average of $127.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $11.70 billion, a PE ratio of 32.37 and a beta of 1.53.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Equities research analysts forecast that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.43%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 175.64%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Citigroup raised their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $134.60.

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.