Prime Capital Investment Advisors LLC Lowers Position in Lamar Advertising (NASDAQ:LAMR)

Prime Capital Investment Advisors LLC decreased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,499 shares of the real estate investment trust’s stock after selling 583 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Lamar Advertising were worth $3,006,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after acquiring an additional 68,484 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Lamar Advertising by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock valued at $159,283,000 after purchasing an additional 75,955 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Lamar Advertising by 81.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after purchasing an additional 420,311 shares in the last quarter. Centersquare Investment Management LLC lifted its position in Lamar Advertising by 82.8% during the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after purchasing an additional 281,582 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Lamar Advertising by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock worth $67,664,000 after buying an additional 22,382 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Trading Down 0.5 %

Shares of NASDAQ LAMR opened at $128.25 on Thursday. Lamar Advertising has a fifty-two week low of $94.71 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 25.65 and a beta of 1.52. The business’s 50 day moving average price is $131.93 and its 200-day moving average price is $123.19.

Lamar Advertising (NASDAQ:LAMR) last released its 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). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 earnings per share. On average, sell-side analysts expect that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.37%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is 112.00%.

Analysts Set New Price Targets

A number of brokerages recently commented on LAMR. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen lifted their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Wells Fargo & Company lowered their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising 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.