Lamar Advertising (NASDAQ:LAMR) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in Lamar Advertising (NASDAQ:LAMR) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,416 shares of the real estate investment trust’s stock after selling 87 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Lamar Advertising were worth $2,193,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LAMR. Blue Trust Inc. lifted its holdings 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 valued at $25,000 after acquiring an additional 151 shares during the last quarter. Whittier Trust Co. lifted its stake 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 valued at $26,000 after purchasing an additional 130 shares during the last quarter. Concord Wealth Partners acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising during the 2nd quarter worth $30,000. Finally, 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 worth $30,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $126.35 on Friday. The firm has a 50 day moving average of $132.11 and a two-hundred day moving average of $123.32. The stock has a market capitalization of $12.93 billion, a PE ratio of 25.27 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 52 week low of $95.83 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter last year, the business posted $2.04 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.43%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 112.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LAMR. Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. TD Cowen boosted their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.40.

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.