Lamar Advertising (NASDAQ:LAMR) Shares Sold by Dakota Wealth Management

Dakota Wealth Management cut its position in Lamar Advertising (NASDAQ:LAMR) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,665 shares of the real estate investment trust’s stock after selling 345 shares during the period. Dakota Wealth Management’s holdings in Lamar Advertising were worth $1,158,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its position in Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares during the last quarter. Whittier Trust Co. lifted its position in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Lamar Advertising in the first quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new stake in Lamar Advertising during the 2nd quarter worth about $30,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Lamar Advertising during the 2nd quarter valued at about $45,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Down 0.8 %

Shares of NASDAQ LAMR opened at $134.69 on Friday. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 27.32 and a beta of 1.52. The company’s 50-day simple moving average is $129.56 and its 200-day simple moving average is $121.46. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 52-week low of $79.94 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.16%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 113.59%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. raised 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. TD Cowen increased 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. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company initiated coverage on Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. Finally, Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a 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 data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $125.00.

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.