Lamar Advertising (NASDAQ:LAMR) Shares Acquired by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC raised its position in shares of Lamar Advertising (NASDAQ:LAMR) by 3.4% in the 3rd quarter, Holdings Channel reports. The firm owned 96,195 shares of the real estate investment trust’s stock after acquiring an additional 3,164 shares during the period. Lamar Advertising accounts for approximately 2.1% of Gilman Hill Asset Management LLC’s holdings, making the stock its 4th largest position. Gilman Hill Asset Management LLC’s holdings in Lamar Advertising were worth $12,852,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. acquired a new position in Lamar Advertising during the first quarter valued at approximately $25,000. Whittier Trust Co. grew its stake in shares of Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Lamar Advertising during the first quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in shares of Lamar Advertising during the second quarter worth $30,000. Finally, Sound Income Strategies LLC grew its stake in shares of Lamar Advertising by 85.8% during the first quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 145 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Up 1.7 %

Shares of NASDAQ LAMR traded up $2.29 during trading on Friday, hitting $133.74. 296,994 shares of the company traded hands, compared to its average volume of 408,833. The business’s fifty day moving average is $125.53 and its 200 day moving average is $120.09. Lamar Advertising has a fifty-two week low of $79.94 and a fifty-two week high of $137.40. The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of 27.46 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the prior year, the company posted $1.90 EPS. Lamar Advertising’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is currently 114.99%.

Analyst Ratings Changes

A number of research firms have weighed in on LAMR. TD Cowen boosted their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research note on Thursday, July 11th. Finally, Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.00.

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.