Marks Group Wealth Management Inc Trims Stake in Lamar Advertising (NASDAQ:LAMR)

Marks Group Wealth Management Inc reduced its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 12.3% in the 4th quarter, Holdings Channel reports. The fund owned 15,502 shares of the real estate investment trust’s stock after selling 2,179 shares during the period. Marks Group Wealth Management Inc’s holdings in Lamar Advertising were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its holdings in Lamar Advertising by 93.0% in the third quarter. Geneos Wealth Management Inc. now owns 359 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Lamar Advertising in the third quarter worth approximately $30,000. Signaturefd LLC boosted its stake in shares of Lamar Advertising by 43.7% in the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Lamar Advertising in the fourth quarter worth approximately $57,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Lamar Advertising by 249.0% in the third quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 503 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 14.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LAMR shares. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Morgan Stanley boosted their price objective on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th.

Lamar Advertising Trading Up 1.5 %

NASDAQ:LAMR traded up $1.75 on Tuesday, reaching $115.46. The company’s stock had a trading volume of 90,107 shares, compared to its average volume of 406,393. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $121.99. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 23.45 and a beta of 1.50. The stock has a 50 day moving average price of $113.65 and a 200 day moving average price of $103.88.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The business had revenue of $555.91 million during the quarter, compared to analysts’ expectations of $549.84 million. During the same quarter in the prior year, the firm earned $1.91 EPS. On average, equities analysts anticipate that Lamar Advertising will post 7.54 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s payout ratio is currently 107.22%.

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.