Principle Wealth Partners LLC Has $407,000 Stake in Lamar Advertising (NASDAQ:LAMR)

Principle Wealth Partners LLC raised its holdings in Lamar Advertising (NASDAQ:LAMR) by 13.6% in the fourth quarter, Holdings Channel reports. The fund owned 3,340 shares of the real estate investment trust’s stock after acquiring an additional 400 shares during the period. Principle Wealth Partners LLC’s holdings in Lamar Advertising were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LAMR. GAMMA Investing LLC grew its stake in Lamar Advertising by 41.5% in the third quarter. GAMMA Investing LLC now owns 580 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 170 shares during the period. Creative Planning lifted its holdings in shares of Lamar Advertising by 1.1% in the third quarter. Creative Planning now owns 12,011 shares of the real estate investment trust’s stock valued at $1,605,000 after purchasing an additional 131 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its holdings in shares of Lamar Advertising by 6.6% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 84 shares in the last quarter. SPC Financial Inc. lifted its holdings in shares of Lamar Advertising by 21.2% in the third quarter. SPC Financial Inc. now owns 3,639 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 636 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Lamar Advertising by 1.0% in the third quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock valued at $1,329,000 after purchasing an additional 97 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. TD Cowen boosted their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Performance

LAMR opened at $126.75 on Wednesday. Lamar Advertising has a 52-week low of $102.10 and a 52-week high of $139.88. The firm has a market capitalization of $12.97 billion, a PE ratio of 25.35 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50-day simple moving average is $125.13 and its 200 day simple moving average is $126.90.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 annualized dividend and a yield of 4.42%. Lamar Advertising’s payout ratio is presently 112.00%.

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.