Concurrent Investment Advisors LLC Raises Holdings in Lamar Advertising (NASDAQ:LAMR)

Concurrent Investment Advisors LLC lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,024 shares of the real estate investment trust’s stock after purchasing an additional 331 shares during the period. Concurrent Investment Advisors LLC’s holdings in Lamar Advertising were worth $246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC increased its position in Lamar Advertising by 0.7% during the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock worth $1,576,000 after buying an additional 82 shares during the period. Sanctuary Advisors LLC grew its position in shares of Lamar Advertising by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust’s stock worth $2,442,000 after acquiring an additional 82 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 84 shares during the period. CIBC Asset Management Inc raised its position in Lamar Advertising by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust’s stock valued at $341,000 after purchasing an additional 85 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Lamar Advertising by 14.7% during the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 90 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on LAMR. TD Cowen lifted their price objective 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. JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Morgan Stanley upped their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company dropped their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $125.43 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The company’s 50-day moving average price is $124.47 and its 200 day moving average price is $127.64. Lamar Advertising has a 52 week low of $107.22 and a 52 week high of $139.88. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 35.53 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. As a group, research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.94%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is presently 175.64%.

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.