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

Apollon Wealth Management LLC reduced its position in Lamar Advertising (NASDAQ:LAMR) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,866 shares of the real estate investment trust’s stock after selling 242 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lamar Advertising were worth $1,184,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LAMR. Blue Trust Inc. increased 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 purchasing an additional 151 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Lamar Advertising during the 3rd quarter valued at approximately $26,000. Whittier Trust Co. increased its position in Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the period. Assetmark Inc. increased its position in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising in the second quarter worth $30,000. 93.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on LAMR. Morgan Stanley raised their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday. TD Cowen raised their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company lowered their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Down 0.9 %

Shares of Lamar Advertising stock opened at $127.15 on Friday. Lamar Advertising has a 12 month low of $95.81 and a 12 month high of $139.88. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market cap of $13.01 billion, a PE ratio of 25.43 and a beta of 1.52. The business has a fifty day simple moving average of $131.98 and a 200 day simple moving average of $123.22.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same period in the prior year, the company earned $2.04 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts predict 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 given a $1.40 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.40%. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Lamar Advertising 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.