Navellier & Associates Inc. Increases Position in Lamar Advertising (NASDAQ:LAMR)

Navellier & Associates Inc. raised its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 36.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,304 shares of the real estate investment trust’s stock after buying an additional 1,680 shares during the period. Navellier & Associates Inc.’s holdings in Lamar Advertising were worth $767,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 151 shares during the period. Brooklyn Investment Group purchased a new position in shares of Lamar Advertising during the third quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in shares of Lamar Advertising during the third quarter valued at approximately $26,000. Assetmark Inc. boosted its position in shares of 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 buying an additional 117 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of LAMR opened at $121.91 on Friday. The firm has a market capitalization of $12.48 billion, a PE ratio of 34.54 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 1-year low of $107.22 and a 1-year high of $139.88. The company’s fifty day moving average price is $124.60 and its 200-day moving average price is $127.49.

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

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.09%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising’s dividend payout ratio is presently 175.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LAMR shares. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $133.40.

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.