Algert Global LLC Acquires 320 Shares of Lamar Advertising (NASDAQ:LAMR)

Algert Global LLC boosted its holdings in Lamar Advertising (NASDAQ:LAMR) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,910 shares of the real estate investment trust’s stock after purchasing an additional 320 shares during the period. Algert Global LLC owned about 0.07% of Lamar Advertising worth $9,607,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Lamar Advertising by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Lamar Advertising by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,093,096 shares of the real estate investment trust’s stock worth $146,038,000 after acquiring an additional 39,845 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Lamar Advertising by 81.3% in 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 acquiring an additional 420,311 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Lamar Advertising by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock valued at $67,664,000 after acquiring an additional 22,382 shares during the period. Finally, Boston Trust Walden Corp increased its stake in shares of Lamar Advertising by 2.0% during the 3rd quarter. Boston Trust Walden Corp now owns 407,813 shares of the real estate investment trust’s stock worth $54,484,000 after purchasing an additional 8,135 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LAMR shares. Morgan Stanley upped their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. TD Cowen upped their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company decreased their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Trading Up 0.8 %

Shares of LAMR opened at $130.35 on Friday. Lamar Advertising has a twelve month low of $97.54 and a twelve month high of $139.88. The stock has a market cap of $13.34 billion, a PE ratio of 26.07 and a beta of 1.52. 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’s 50-day moving average price is $132.41 and its 200-day moving average price is $123.73.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same period last year, the company posted $2.04 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.30%. Lamar Advertising’s dividend payout ratio (DPR) 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.