Patriot Financial Group Insurance Agency LLC Boosts Stake in Lamar Advertising (NASDAQ:LAMR)

Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,474 shares of the real estate investment trust’s stock after acquiring an additional 345 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Lamar Advertising were worth $910,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group purchased a new position in Lamar Advertising during the third quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising during the third quarter worth approximately $26,000. Assetmark Inc. boosted its stake in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

LAMR has been the topic of several analyst reports. Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. TD Cowen increased 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. Finally, Wells Fargo & Company reduced their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. 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 currently has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Trading Down 1.4 %

Shares of LAMR stock opened at $126.41 on Wednesday. Lamar Advertising has a 1-year low of $102.10 and a 1-year high of $139.88. The firm has a market cap of $12.94 billion, a PE ratio of 25.28 and a beta of 1.50. The company has a 50-day moving average of $126.15 and a two-hundred day moving average of $126.47. 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 (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the prior year, the firm posted $2.04 EPS. Lamar Advertising’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that Lamar Advertising will post 7.49 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.43%. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

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.