First PREMIER Bank Trims Stock Position in Lamar Advertising (NASDAQ:LAMR)

First PREMIER Bank decreased its stake in Lamar Advertising (NASDAQ:LAMR) by 4.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,246 shares of the real estate investment trust’s stock after selling 405 shares during the period. First PREMIER Bank’s holdings in Lamar Advertising were worth $1,126,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in Lamar Advertising during the third quarter worth approximately $43,665,000. JPMorgan Chase & Co. raised its position in Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Lamar Advertising by 19,961.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after purchasing an additional 109,790 shares during the period. Franklin Resources Inc. grew its position in Lamar Advertising by 39.8% during the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock worth $7,017,000 after purchasing an additional 14,672 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Lamar Advertising by 96.0% in the third quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after purchasing an additional 47,746 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LAMR has been the topic of a number of research reports. TD Cowen raised their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upped their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research 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, the stock has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Trading Down 1.3 %

NASDAQ:LAMR opened at $126.10 on Thursday. Lamar Advertising has a 52-week low of $102.10 and a 52-week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a fifty day simple moving average of $126.19 and a 200-day simple moving average of $126.15. The company has a market capitalization of $12.91 billion, a PE ratio of 25.22 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same period last year, the company earned $2.04 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising’s payout ratio is currently 112.00%.

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.