Cerity Partners LLC Purchases 9,948 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Cerity Partners LLC boosted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 59.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,743 shares of the real estate investment trust’s stock after acquiring an additional 9,948 shares during the period. Cerity Partners LLC’s holdings in Lamar Advertising were worth $3,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Lamar Advertising by 24.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,216 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 241 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Lamar Advertising by 1.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 16,724 shares of the real estate investment trust’s stock worth $2,036,000 after buying an additional 165 shares during the period. Natixis Advisors LLC lifted its stake in Lamar Advertising by 3.9% in the fourth quarter. Natixis Advisors LLC now owns 66,802 shares of the real estate investment trust’s stock valued at $8,132,000 after buying an additional 2,514 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Lamar Advertising by 13.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,853 shares of the real estate investment trust’s stock valued at $1,321,000 after buying an additional 1,270 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Lamar Advertising by 3.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,023 shares of the real estate investment trust’s stock valued at $1,220,000 after buying an additional 333 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on LAMR. Morgan Stanley dropped their price objective on shares of 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 upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and increased their target price for the stock 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $134.00.

Lamar Advertising Price Performance

Shares of LAMR opened at $124.93 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $139.88. The stock has a market capitalization of $12.79 billion, a P/E ratio of 30.32 and a beta of 1.33. The company has a 50 day moving average of $120.79 and a 200-day moving average of $119.29.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. The business had revenue of $505.43 million during the quarter, compared to analysts’ expectations of $509.72 million. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. As a group, equities research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.96%. The ex-dividend date was Monday, June 16th. Lamar Advertising’s payout ratio is 150.49%.

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.