Ibex Wealth Advisors Purchases Shares of 49,480 Lamar Advertising (NASDAQ:LAMR)

Ibex Wealth Advisors acquired a new stake in shares of Lamar Advertising (NASDAQ:LAMR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 49,480 shares of the real estate investment trust’s stock, valued at approximately $6,024,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LAMR. Patriot Financial Group Insurance Agency LLC boosted its position in Lamar Advertising by 4.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 7,474 shares of the real estate investment trust’s stock valued at $910,000 after buying an additional 345 shares in the last quarter. KBC Group NV boosted its holdings in shares of Lamar Advertising by 43.2% in the 4th quarter. KBC Group NV now owns 3,247 shares of the real estate investment trust’s stock worth $395,000 after acquiring an additional 979 shares in the last quarter. Blue Trust Inc. grew its position in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 108 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in Lamar Advertising during the 4th quarter valued at $312,000. Finally, First Citizens Bank & Trust Co. raised its position in Lamar Advertising by 14.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 2,192 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 277 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Down 0.1 %

Shares of Lamar Advertising stock traded down $0.17 on Wednesday, hitting $126.24. The company had a trading volume of 21,199 shares, compared to its average volume of 445,504. Lamar Advertising has a twelve month low of $102.10 and a twelve month high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50-day moving average of $126.15 and a 200-day moving average of $126.47. The firm has a market capitalization of $12.92 billion, a P/E ratio of 25.25 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. During the same period in the prior year, the business earned $2.04 earnings per share. Lamar Advertising’s revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Lamar Advertising will post 7.49 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.44%. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Analysts Set New Price Targets

LAMR has been the topic of several research analyst reports. Wells Fargo & Company decreased their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley upped their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, 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. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $132.40.

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.