49,480 Shares in Lamar Advertising (NASDAQ:LAMR) Acquired by Ibex Wealth Advisors

Ibex Wealth Advisors bought a new position in shares of Lamar Advertising (NASDAQ:LAMR) in the fourth quarter, Holdings Channel reports. The fund bought 49,480 shares of the real estate investment trust’s stock, valued at approximately $6,024,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 151 shares during the period. Brooklyn Investment Group acquired a new position in shares of Lamar Advertising in the 3rd quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in shares of Lamar Advertising during the third quarter worth $26,000. Assetmark Inc. lifted its holdings in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 117 shares during the period. Finally, Versant Capital Management Inc boosted its position in Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 143 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. TD Cowen increased their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Down 0.1 %

Shares of NASDAQ LAMR traded down $0.17 during trading on Wednesday, hitting $126.24. The stock had a trading volume of 21,199 shares, compared to its average volume of 445,504. 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 firm has a fifty day moving average of $126.15 and a two-hundred day moving average of $126.47. Lamar Advertising has a 12 month low of $102.10 and a 12 month high of $139.88. The company has a market capitalization of $12.92 billion, a PE ratio of 25.25 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.04 EPS. As a group, equities research analysts forecast that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising’s payout ratio is 112.00%.

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.