Lamar Advertising (NASDAQ:LAMR) Holdings Raised by Glenmede Trust Co. NA

Glenmede Trust Co. NA grew its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,262 shares of the real estate investment trust’s stock after acquiring an additional 8,651 shares during the period. Glenmede Trust Co. NA owned 0.09% of Lamar Advertising worth $12,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LAMR. Blue Trust Inc. increased its holdings 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 worth $25,000 after buying an additional 151 shares during the last quarter. Brooklyn Investment Group bought a new stake in Lamar Advertising in the third quarter worth approximately $25,000. Concord Wealth Partners acquired a new position in shares of Lamar Advertising during the 3rd quarter worth $26,000. Whittier Trust Co. raised its holdings in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. TD Cowen raised their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $134.02 on Friday. 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 business has a 50 day moving average price of $132.62 and a 200 day moving average price of $124.25. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 26.80 and a beta of 1.52. Lamar Advertising has a twelve month low of $99.54 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data 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). The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 EPS. Research analysts predict that Lamar Advertising will post 7.52 earnings per share for the current year.

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.