Marks Group Wealth Management Inc Sells 210 Shares of Lamar Advertising (NASDAQ:LAMR)

Marks Group Wealth Management Inc cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,396 shares of the real estate investment trust’s stock after selling 210 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Lamar Advertising were worth $2,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LAMR. Los Angeles Capital Management LLC purchased a new stake in shares of Lamar Advertising during the third quarter worth about $43,665,000. JPMorgan Chase & Co. boosted its stake in Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after purchasing an additional 90,933 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Lamar Advertising by 19,961.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock valued at $14,741,000 after buying an additional 109,790 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Lamar Advertising by 39.8% during the third quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after buying an additional 14,672 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Lamar Advertising by 96.0% in the third quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock worth $13,026,000 after buying an additional 47,746 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $126.75 on Wednesday. The company’s 50-day moving average price is $125.13 and its 200-day moving average price is $126.90. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The company has a market cap of $12.97 billion, a PE ratio of 25.35 and a beta of 1.51. Lamar Advertising has a twelve month low of $102.10 and a twelve month high of $139.88.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.42%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

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.