Lamar Advertising Company (NASDAQ:LAMR) Holdings Lifted by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in Lamar Advertising Company (NASDAQ:LAMR) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,584 shares of the real estate investment trust’s stock after acquiring an additional 475 shares during the period. Fifth Third Bancorp’s holdings in Lamar Advertising were worth $635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $25,000. ST Germain D J Co. Inc. lifted its holdings in shares of Lamar Advertising by 346.0% during the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 218 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Lamar Advertising by 106.7% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 143 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 450 shares during the last quarter. Finally, GeoWealth Management LLC lifted its holdings in shares of Lamar Advertising by 100.8% during the fourth quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 388 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Up 0.1%

NASDAQ:LAMR opened at $119.53 on Wednesday. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 29.01 and a beta of 1.34. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89. The business’s fifty day moving average price is $116.01 and its 200 day moving average price is $119.89.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. On average, sell-side analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.19%. The ex-dividend date is Monday, June 16th. Lamar Advertising’s payout ratio is currently 150.49%.

Wall Street Analyst Weigh In

LAMR has been the subject of several analyst reports. Morgan Stanley reduced their target price on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and upped their target price for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $134.00.

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.