Thrivent Financial for Lutherans Sells 728 Shares of Lamar Advertising (NASDAQ:LAMR)

Thrivent Financial for Lutherans reduced its position in Lamar Advertising (NASDAQ:LAMR) by 3.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,348 shares of the real estate investment trust’s stock after selling 728 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lamar Advertising were worth $2,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. SPC Financial Inc. boosted its holdings 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 worth $359,000 after buying an additional 103 shares during the period. Woodward Diversified Capital LLC boosted its holdings 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 acquiring an additional 113 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of 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 in the last quarter. Simplicity Wealth LLC raised its stake in shares of 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 valued at $3,301,000 after purchasing an additional 121 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of 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 valued at $846,000 after purchasing an additional 123 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Up 0.2 %

LAMR stock opened at $133.60 on Tuesday. The company’s 50 day moving average is $122.94 and its 200 day moving average is $119.01. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 27.43 and a beta of 1.52. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $137.40.

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

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.19%. Lamar Advertising’s dividend payout ratio (DPR) is presently 114.99%.

Analysts Set New Price Targets

LAMR has been the subject of a number of recent analyst reports. Wells Fargo & Company began coverage on Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. Finally, TD Cowen raised their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.00.

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.