Berry Wealth Group LP Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Berry Wealth Group LP purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,683 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Lamar Advertising in the fourth quarter valued at about $6,190,000. CWM LLC grew its stake in shares of Lamar Advertising by 236.7% in the fourth quarter. CWM LLC now owns 1,256 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 883 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of Lamar Advertising by 4.9% in the fourth quarter. Gilbert & Cook Inc. now owns 4,730 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 219 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Lamar Advertising in the fourth quarter valued at about $306,000. Finally, Natixis Advisors L.P. grew its stake in shares of Lamar Advertising by 22.8% in the fourth quarter. Natixis Advisors L.P. now owns 46,558 shares of the real estate investment trust’s stock valued at $4,948,000 after buying an additional 8,635 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Citigroup downgraded 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 increased their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.25.

Lamar Advertising Stock Performance

NASDAQ:LAMR traded up $1.77 during trading hours on Friday, reaching $125.78. 451,479 shares of the stock were exchanged, compared to its average volume of 419,491. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The firm has a 50 day simple moving average of $118.82 and a 200-day simple moving average of $116.64. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $125.89. The stock has a market capitalization of $12.87 billion, a P/E ratio of 25.83 and a beta of 1.52.

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

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be issued a $1.40 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.45%. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

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.