iA Global Asset Management Inc. Purchases 36,280 Shares of Lamar Advertising (NASDAQ:LAMR)

iA Global Asset Management Inc. boosted its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 1,634.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,500 shares of the real estate investment trust's stock after acquiring an additional 36,280 shares during the quarter. iA Global Asset Management Inc.'s holdings in Lamar Advertising were worth $5,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Lamar Advertising during the 3rd quarter valued at about $25,000. Whittier Trust Co. increased its position in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Lamar Advertising during the 3rd quarter valued at about $26,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising during the 2nd quarter valued at about $30,000. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LAMR has been the topic of several recent research reports. Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Wells Fargo & Company dropped their target price on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 11th. Finally, StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $132.40.

Lamar Advertising Trading Down 0.2 %

NASDAQ LAMR traded down $0.29 on Friday, hitting $131.22. The company's stock had a trading volume of 281,515 shares, compared to its average volume of 499,003. Lamar Advertising has a 52-week low of $100.15 and a 52-week high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The company's 50-day simple moving average is $132.46 and its 200 day simple moving average is $124.69. The firm has a market cap of $13.43 billion, a P/E ratio of 26.24 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data 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). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million during the quarter, compared to analysts' expectations of $568.91 million. During the same quarter last year, the business posted $2.04 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.27%. Lamar Advertising's dividend payout ratio is currently 112.00%.

Lamar Advertising 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.