Lamar Advertising (NASDAQ:LAMR) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. trimmed its position in shares of Lamar Advertising (NASDAQ:LAMR) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,857 shares of the real estate investment trust’s stock after selling 248 shares during the period. Foster & Motley Inc.’s holdings in Lamar Advertising were worth $382,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LAMR. Blue Trust Inc. boosted its stake 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 valued at $25,000 after acquiring an additional 151 shares during the last quarter. Whittier Trust Co. boosted its stake in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in Lamar Advertising during the 3rd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in Lamar Advertising during the 2nd quarter valued at $30,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Lamar Advertising during the 2nd quarter valued at $45,000. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LAMR shares. JPMorgan Chase & Co. raised their price target 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. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research report on Thursday, July 11th. Wells Fargo & Company started coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target on the stock. TD Cowen raised their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $125.00.

Lamar Advertising Stock Up 2.2 %

LAMR stock opened at $134.99 on Friday. 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 fifty-two week low of $91.20 and a fifty-two week high of $139.88. The firm’s 50-day simple moving average is $131.69 and its 200 day simple moving average is $122.74. The stock has a market cap of $13.81 billion, a PE ratio of 27.38 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $1.90 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This is a boost 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 yield of 4.15%. Lamar Advertising’s dividend payout ratio (DPR) is presently 113.59%.

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.