HighTower Advisors LLC Boosts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

HighTower Advisors LLC grew its position in Lamar Advertising (NASDAQ:LAMR) by 5.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 626,950 shares of the real estate investment trust’s stock after buying an additional 29,683 shares during the period. HighTower Advisors LLC’s holdings in Lamar Advertising were worth $83,708,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Lamar Advertising by 444.1% in the 3rd 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 in the last quarter. Brooklyn Investment Group acquired a new stake in Lamar Advertising in the 3rd quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in Lamar Advertising in the 3rd quarter worth approximately $26,000. Whittier Trust Co. boosted its stake in Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Lamar Advertising by 109.3% in 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 in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Trading Down 1.1 %

Shares of LAMR stock opened at $132.12 on Wednesday. The company’s 50-day moving average price is $132.52 and its 200-day moving average price is $124.48. Lamar Advertising has a twelve month low of $100.15 and a twelve month high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 26.42 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly 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). The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. As a group, equities analysts predict that Lamar Advertising will post 7.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on LAMR shares. Wells Fargo & Company decreased their price objective 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. Morgan Stanley lifted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen lifted their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock 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.