Farther Finance Advisors LLC Boosts Stock Holdings in Lamar Advertising Company (NASDAQ:LAMR)

Farther Finance Advisors LLC lifted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 101.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,446 shares of the real estate investment trust’s stock after acquiring an additional 1,230 shares during the quarter. Farther Finance Advisors LLC’s holdings in Lamar Advertising were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. FMR LLC increased its position in shares of Lamar Advertising by 11.0% during the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock worth $672,890,000 after acquiring an additional 545,606 shares during the period. Cohen & Steers Inc. increased its position in shares of Lamar Advertising by 453.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock worth $323,900,000 after acquiring an additional 2,180,011 shares during the period. Boston Partners increased its position in shares of Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock worth $295,122,000 after acquiring an additional 152,575 shares during the period. Geode Capital Management LLC increased its position in shares of Lamar Advertising by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock worth $257,414,000 after acquiring an additional 59,039 shares during the period. Finally, Northern Trust Corp increased its position in shares of Lamar Advertising by 50.5% during the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust’s stock worth $155,632,000 after acquiring an additional 428,744 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $119.79 on Thursday. 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 firm has a fifty day moving average price of $116.13 and a 200 day moving average price of $119.89. The company has a market cap of $12.27 billion, a P/E ratio of 29.08 and a beta of 1.34. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88.

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

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.55 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.20 annualized dividend and a yield of 5.18%. Lamar Advertising’s dividend payout ratio is presently 150.49%.

Analyst Upgrades and Downgrades

LAMR has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Citigroup upgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $134.00.

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.