Jamison Private Wealth Management Inc. Purchases 84 Shares of Lamar Advertising (NASDAQ:LAMR)

Jamison Private Wealth Management Inc. grew its position in shares of Lamar Advertising (NASDAQ:LAMR) by 6.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,349 shares of the real estate investment trust’s stock after acquiring an additional 84 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Lamar Advertising were worth $180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SPC Financial Inc. increased its stake in Lamar Advertising by 3.6% during the first quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $359,000 after acquiring an additional 103 shares during the last quarter. Woodward Diversified Capital LLC increased its position in shares of Lamar Advertising by 2.6% during the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Lamar Advertising by 1.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock valued at $789,000 after buying an additional 114 shares during the period. Simplicity Wealth LLC lifted its position in Lamar Advertising by 0.4% in the second quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock worth $3,301,000 after buying an additional 121 shares during the last quarter. Finally, NovaPoint Capital LLC boosted its stake in Lamar Advertising by 3.9% during the second quarter. NovaPoint Capital LLC now owns 3,498 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 130 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a report on Thursday, July 11th. Wells Fargo & Company assumed coverage on Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective on the stock. TD Cowen lifted their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Lamar Advertising has an average rating of “Hold” and an average price target of $125.00.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $136.59 on Thursday. Lamar Advertising has a twelve month low of $79.94 and a twelve month high of $139.88. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a fifty day simple moving average of $127.00 and a two-hundred day simple moving average of $120.47. The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of 28.05 and a beta of 1.52.

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

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a $1.40 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.10%. Lamar Advertising’s payout ratio is 114.99%.

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.