2,619 Shares in Lamar Advertising (NASDAQ:LAMR) Bought by Meriwether Wealth & Planning LLC

Meriwether Wealth & Planning LLC acquired a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,619 shares of the real estate investment trust’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Lamar Advertising during the third quarter worth $25,000. Rialto Wealth Management LLC acquired a new stake in Lamar Advertising in the fourth quarter valued at $25,000. Assetmark Inc. grew its holdings in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Blue Trust Inc. grew its holdings in Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 108 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Citigroup upped their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, TD Cowen upped their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five 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, the stock has a consensus rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Stock Up 1.6 %

Shares of NASDAQ:LAMR opened at $125.28 on Monday. 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 has a 52-week low of $108.80 and a 52-week high of $139.88. The stock’s fifty day simple moving average is $124.53 and its 200-day simple moving average is $127.99. The company has a market capitalization of $12.83 billion, a P/E ratio of 35.49 and a beta of 1.53.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. As a group, equities research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 4.95%. Lamar Advertising’s dividend payout ratio is 175.64%.

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.