IHT Wealth Management LLC Acquires New Position in Lamar Advertising (NASDAQ:LAMR)

IHT Wealth Management LLC acquired a new stake in shares of Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,148 shares of the real estate investment trust’s stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC grew its position in Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after acquiring an additional 119,068 shares during the last quarter. HighTower Advisors LLC grew its position in Lamar Advertising by 5.0% during the 3rd quarter. HighTower Advisors LLC now owns 626,950 shares of the real estate investment trust’s stock worth $83,708,000 after acquiring an additional 29,683 shares during the last quarter. Hilltop Holdings Inc. grew its position in Lamar Advertising by 17.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 3,472 shares of the real estate investment trust’s stock worth $464,000 after acquiring an additional 514 shares during the last quarter. Holocene Advisors LP bought a new position in Lamar Advertising during the 3rd quarter worth approximately $1,345,000. Finally, ClearAlpha Technologies LP bought a new position in Lamar Advertising during the 3rd quarter worth approximately $301,000. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $131.60 on Tuesday. The firm has a market cap of $13.47 billion, a P/E ratio of 26.32 and a beta of 1.50. Lamar Advertising has a fifty-two week low of $100.15 and a fifty-two week high of $139.88. The business’s 50 day moving average price is $132.42 and its 200-day moving average price is $124.81. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly 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). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.26%. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on 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 lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price objective 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 lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and a consensus 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.