International Assets Investment Management LLC Takes Position in Lamar Advertising (NASDAQ:LAMR)

International Assets Investment Management LLC acquired a new stake in Lamar Advertising (NASDAQ:LAMR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 579 shares of the real estate investment trust’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SPC Financial Inc. increased its position in Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 103 shares during the period. Woodward Diversified Capital LLC grew its stake in shares of Lamar Advertising by 2.6% in the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Lamar Advertising by 1.8% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock valued at $789,000 after purchasing an additional 114 shares during the period. Simplicity Wealth LLC raised its position in Lamar Advertising by 0.4% during the 2nd quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock worth $3,301,000 after purchasing an additional 121 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Lamar Advertising by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LAMR. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. TD Cowen upped their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $123.25.

Lamar Advertising Price Performance

Shares of LAMR opened at $124.41 on Wednesday. The firm has a market cap of $12.72 billion, a PE ratio of 25.55 and a beta of 1.52. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $126.42. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The business’s 50 day moving average price is $119.11 and its two-hundred day moving average price is $116.96.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. On average, equities analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $5.60 annualized dividend and a yield of 4.50%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is presently 114.99%.

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.