Blackston Financial Advisory Group LLC Sells 146 Shares of Lamar Advertising (NASDAQ:LAMR)

Blackston Financial Advisory Group LLC decreased its position in Lamar Advertising (NASDAQ:LAMR) by 5.1% during the third quarter, HoldingsChannel reports. The firm owned 2,708 shares of the real estate investment trust’s stock after selling 146 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in Lamar Advertising were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Centersquare Investment Management LLC lifted its position in shares of Lamar Advertising by 82.8% during the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after purchasing an additional 281,582 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Lamar Advertising by 2.3% in the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock valued at $47,774,000 after acquiring an additional 8,857 shares during the period. Csenge Advisory Group bought a new position in Lamar Advertising during the second quarter worth $722,000. Natixis Advisors LLC raised its stake in Lamar Advertising by 13.1% during the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock valued at $7,225,000 after purchasing an additional 6,979 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Lamar Advertising by 67.6% during the 1st quarter. BNP Paribas Financial Markets now owns 99,127 shares of the real estate investment trust’s stock valued at $11,837,000 after purchasing an additional 39,990 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on LAMR. Wells Fargo & Company started coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a report on Thursday, July 11th. Finally, TD Cowen upped their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Stock Up 0.3 %

Shares of LAMR opened at $136.20 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The company has a 50-day moving average price of $129.25 and a two-hundred day moving average price of $121.29. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 27.87 and a beta of 1.52. Lamar Advertising has a 12 month low of $79.94 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. During the same quarter last year, the business earned $1.90 EPS. Lamar Advertising’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 114.99%.

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.