Lamar Advertising (NASDAQ:LAMR) Price Target Lowered to $126.00 at JPMorgan Chase & Co.

Lamar Advertising (NASDAQ:LAMR) had its price objective cut by JPMorgan Chase & Co. from $129.00 to $126.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on the company. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price target 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 price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, TD Cowen increased 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $133.40.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $121.91 on Friday. Lamar Advertising has a 12 month low of $107.22 and a 12 month high of $139.88. The firm has a market capitalization of $12.48 billion, a P/E ratio of 24.38 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The company’s fifty day moving average price is $124.74 and its 200 day moving average price is $127.31.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. As a group, sell-side analysts predict that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LAMR. Blue Trust Inc. lifted its position 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 purchasing an additional 151 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Lamar Advertising in the 3rd quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Lamar Advertising in the fourth quarter valued at approximately $25,000. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising in the third quarter valued at approximately $26,000. Finally, Assetmark Inc. grew its holdings in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

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.