Continuum Advisory LLC Purchases 285 Shares of Lamar Advertising (NASDAQ:LAMR)

Continuum Advisory LLC increased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 7.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,172 shares of the real estate investment trust’s stock after purchasing an additional 285 shares during the period. Continuum Advisory LLC’s holdings in Lamar Advertising were worth $530,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Trust Walden Corp lifted its holdings in Lamar Advertising by 2.3% during the 2nd quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock worth $47,774,000 after purchasing an additional 8,857 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Lamar Advertising by 13.1% in the second quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock valued at $7,225,000 after acquiring an additional 6,979 shares during the period. Acadian Asset Management LLC grew its stake in shares of Lamar Advertising by 179.4% in the second quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock valued at $2,226,000 after acquiring an additional 11,967 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Lamar Advertising in the third quarter valued at about $43,665,000. Finally, Gallacher Capital Management LLC acquired a new stake in Lamar Advertising in the 2nd quarter worth about $807,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $129.42 on Wednesday. The stock has a fifty day moving average of $132.37 and a 200-day moving average of $124.88. The stock has a market capitalization of $13.25 billion, a P/E ratio of 25.88 and a beta of 1.50. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 52 week low of $100.15 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $2.04 EPS. On average, sell-side analysts expect that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.33%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on LAMR. Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen boosted their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $132.40.

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.