Anchor Capital Advisors LLC Cuts Stock Position in Lamar Advertising (NASDAQ:LAMR)

Anchor Capital Advisors LLC decreased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 449,347 shares of the real estate investment trust’s stock after selling 18,129 shares during the quarter. Lamar Advertising comprises about 1.5% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 14th largest position. Anchor Capital Advisors LLC owned about 0.44% of Lamar Advertising worth $53,710,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. raised its position in shares of Lamar Advertising by 4.9% during the 4th quarter. Gilbert & Cook Inc. now owns 4,730 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 219 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Lamar Advertising by 22.8% in the 4th quarter. Natixis Advisors L.P. now owns 46,558 shares of the real estate investment trust’s stock worth $4,948,000 after purchasing an additional 8,635 shares during the period. Spire Wealth Management increased its position in shares of Lamar Advertising by 24.4% during the 4th quarter. Spire Wealth Management now owns 3,327 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 653 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Lamar Advertising by 66.5% during the 4th quarter. Apollon Wealth Management LLC now owns 7,204 shares of the real estate investment trust’s stock valued at $766,000 after buying an additional 2,877 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Lamar Advertising by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock worth $110,534,000 after buying an additional 30,567 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LAMR. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Finally, TD Cowen raised their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lamar Advertising has a consensus rating of “Hold” and an average price target of $123.25.

Lamar Advertising Trading Down 1.4 %

NASDAQ:LAMR opened at $122.63 on Friday. The firm has a 50-day simple moving average of $119.46 and a 200-day simple moving average of $117.25. Lamar Advertising has a one year low of $77.21 and a one year high of $126.80. The firm has a market cap of $12.54 billion, a P/E ratio of 25.18 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 issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The business had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.90 EPS. Equities analysts anticipate that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be paid a dividend of $1.40 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is 114.99%.

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.