Wealthspire Advisors LLC Acquires 140 Shares of Lamar Advertising (NASDAQ:LAMR)

Wealthspire Advisors LLC grew its holdings in Lamar Advertising (NASDAQ:LAMR) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,347 shares of the real estate investment trust’s stock after acquiring an additional 140 shares during the quarter. Wealthspire Advisors LLC’s holdings in Lamar Advertising were worth $894,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning boosted its holdings in Lamar Advertising by 1.1% in the 3rd 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 during the period. Blue Trust Inc. raised its position in shares of Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 151 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Lamar Advertising by 84.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,970 shares of the real estate investment trust’s stock valued at $664,000 after buying an additional 2,274 shares during the period. Private Advisor Group LLC grew its position in Lamar Advertising by 0.7% during the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock worth $1,576,000 after buying an additional 82 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Lamar Advertising by 49,140.4% during the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after buying an additional 284,523 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on LAMR shares. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Morgan Stanley upped 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, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Citigroup increased their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, TD Cowen lifted 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Trading Up 1.4 %

Shares of LAMR stock opened at $125.43 on Wednesday. The company has a market capitalization of $12.84 billion, a P/E ratio of 35.53 and a beta of 1.51. Lamar Advertising has a 12-month low of $107.22 and a 12-month high of $139.88. 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 firm has a 50-day moving average price of $124.47 and a 200 day moving average price of $127.64.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.94%. Lamar Advertising’s dividend payout ratio (DPR) is 175.64%.

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.