Lamar Advertising Company (NASDAQ:LAMR) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 17.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 42,394 shares of the real estate investment trust’s stock after acquiring an additional 6,171 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Lamar Advertising were worth $4,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LAMR. Cohen & Steers Inc. grew its holdings 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 buying an additional 2,180,011 shares during the last quarter. FMR LLC grew its holdings 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 buying an additional 545,606 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust’s stock worth $110,220,000 after buying an additional 470,805 shares during the last quarter. Norges Bank purchased a new position in shares of Lamar Advertising during the fourth quarter worth about $57,255,000. Finally, Northern Trust Corp grew its holdings 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 buying an additional 428,744 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $119.26 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89. The company has a market cap of $12.21 billion, a P/E ratio of 28.95 and a beta of 1.34. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The company has a 50-day moving average price of $117.16 and a 200 day moving average price of $119.48.

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

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.20%. Lamar Advertising’s payout ratio is currently 150.49%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LAMR. Morgan Stanley lowered their price target on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and raised their price target for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $134.00.

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.