Lamar Advertising (NASDAQ:LAMR) Stake Boosted by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. increased its stake in Lamar Advertising (NASDAQ:LAMR) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,574 shares of the real estate investment trust’s stock after purchasing an additional 242 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Lamar Advertising were worth $2,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LAMR. Los Angeles Capital Management LLC bought a new stake in Lamar Advertising in the third quarter valued at $43,665,000. JPMorgan Chase & Co. boosted its stake in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Lamar Advertising by 19,961.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after purchasing an additional 109,790 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Lamar Advertising by 39.8% in the third quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after purchasing an additional 14,672 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Lamar Advertising by 96.0% during the third quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after buying an additional 47,746 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on LAMR shares. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley raised 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 increased their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered 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 note 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $126.55 on Friday. 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 business’s 50-day moving average price is $125.51 and its 200 day moving average price is $126.69. Lamar Advertising has a 52-week low of $102.10 and a 52-week high of $139.88. The firm has a market cap of $12.95 billion, a P/E ratio of 25.31 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 EPS. As a group, sell-side analysts predict that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.43%. Lamar Advertising’s dividend payout ratio is currently 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.