5,906 Shares in Lamar Advertising (NASDAQ:LAMR) Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,906 shares of the real estate investment trust’s stock, valued at approximately $789,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in shares of Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after buying an additional 119,068 shares in the last quarter. State Street Corp grew its stake in shares of Lamar Advertising by 0.8% during the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock worth $352,752,000 after buying an additional 21,852 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Lamar Advertising by 45.5% during the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after buying an additional 617,356 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Lamar Advertising by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,093,096 shares of the real estate investment trust’s stock worth $146,038,000 after purchasing an additional 39,845 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 1.7 %

Shares of LAMR opened at $129.42 on Wednesday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a fifty-two week low of $100.15 and a fifty-two week high of $139.88. The firm has a 50 day moving average price of $132.37 and a 200-day moving average price of $124.88. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 25.88 and a beta of 1.50.

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

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.33%. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Wall Street Analyst Weigh In

A number of research firms have commented on LAMR. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. TD Cowen boosted their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently 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.