Algert Global LLC Buys 320 Shares of Lamar Advertising (NASDAQ:LAMR)

Algert Global LLC raised its stake in Lamar Advertising (NASDAQ:LAMR) by 0.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 71,910 shares of the real estate investment trust’s stock after purchasing an additional 320 shares during the quarter. Algert Global LLC’s holdings in Lamar Advertising were worth $9,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Concord Wealth Partners bought a new stake in Lamar Advertising during the third quarter worth about $26,000. Whittier Trust Co. boosted its holdings in shares of Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. increased its position in shares of Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.8 %

NASDAQ:LAMR opened at $130.35 on Friday. The firm has a market capitalization of $13.34 billion, a P/E ratio of 26.07 and a beta of 1.52. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The company has a fifty day moving average of $132.41 and a 200 day moving average of $123.73. Lamar Advertising has a 52 week low of $97.54 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $2.04 earnings per share. On average, research analysts predict that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed 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 a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analysts Set New Price Targets

Several analysts have issued reports on LAMR shares. JPMorgan Chase & Co. upped their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen upped their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $132.40.

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.