Concurrent Investment Advisors LLC Raises Holdings in Lamar Advertising (NASDAQ:LAMR)

Concurrent Investment Advisors LLC raised its position in shares of Lamar Advertising (NASDAQ:LAMR) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,024 shares of the real estate investment trust’s stock after acquiring an additional 331 shares during the period. Concurrent Investment Advisors LLC’s holdings in Lamar Advertising were worth $246,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after purchasing an additional 617,356 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Lamar Advertising during the third quarter valued at approximately $43,665,000. International Assets Investment Management LLC grew its stake in Lamar Advertising by 49,140.4% during the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after buying an additional 284,523 shares during the period. Daiwa Securities Group Inc. grew its stake in Lamar Advertising by 148.9% during the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock worth $58,058,000 after buying an additional 259,979 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Lamar Advertising by 631.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust’s stock worth $24,088,000 after acquiring an additional 155,656 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 1.4 %

Lamar Advertising stock opened at $125.43 on Wednesday. The firm has a 50-day moving average price of $124.47 and a two-hundred day moving average price of $127.64. Lamar Advertising has a 52-week low of $107.22 and a 52-week high of $139.88. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 35.53 and a beta of 1.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Sell-side analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.55 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Friday, March 14th. Lamar Advertising’s payout ratio is presently 175.64%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LAMR shares. Citigroup boosted their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and an average price target of $134.60.

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.