Proficio Capital Partners LLC Acquires Shares of 29,218 Lamar Advertising (NASDAQ:LAMR)

Proficio Capital Partners LLC bought a new position in Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 29,218 shares of the real estate investment trust’s stock, valued at approximately $3,557,000.

A number of other institutional investors have also recently modified their holdings of LAMR. Assetmark Inc. lifted its position in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the period. GSA Capital Partners LLP purchased a new stake in Lamar Advertising during the 3rd quarter valued at $443,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Lamar Advertising during the 3rd quarter valued at $12,838,000. KBC Group NV boosted its stake in shares of Lamar Advertising by 10.0% in the 3rd quarter. KBC Group NV now owns 2,268 shares of the real estate investment trust’s stock worth $303,000 after buying an additional 206 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Lamar Advertising in the 3rd quarter worth $205,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LAMR. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Citigroup lifted their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Trading Up 1.8 %

Lamar Advertising stock opened at $113.57 on Tuesday. The firm has a market cap of $11.63 billion, a PE ratio of 32.17 and a beta of 1.53. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The stock’s 50 day simple moving average is $123.73 and its two-hundred day simple moving average is $127.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.46%. Lamar Advertising’s payout ratio is 175.64%.

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.