JB Capital LLC Raises Stock Position in Lamar Advertising (NASDAQ:LAMR)

JB Capital LLC boosted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,039 shares of the real estate investment trust’s stock after acquiring an additional 553 shares during the period. JB Capital LLC’s holdings in Lamar Advertising were worth $3,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Lamar Advertising by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after purchasing an additional 68,484 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lamar Advertising by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Lamar Advertising by 81.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after buying an additional 420,311 shares in the last quarter. Centersquare Investment Management LLC raised its stake in Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after buying an additional 281,582 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Lamar Advertising by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock valued at $67,664,000 after buying an additional 22,382 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

LAMR traded up $1.87 during trading on Thursday, reaching $134.01. 21,794 shares of the company’s stock were exchanged, compared to its average volume of 398,109. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88. The company’s fifty day simple moving average is $131.48 and its 200-day simple moving average is $122.65. The stock has a market capitalization of $13.71 billion, a P/E ratio of 26.80 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same period last year, the business earned $1.90 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.18%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is presently 113.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LAMR. Wells Fargo & Company began coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. TD Cowen boosted their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Four 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, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $125.00.

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.