Marks Group Wealth Management Inc Acquires 3,983 Shares of Lamar Advertising (NASDAQ:LAMR)

Marks Group Wealth Management Inc raised its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 29.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,606 shares of the real estate investment trust's stock after acquiring an additional 3,983 shares during the quarter. Marks Group Wealth Management Inc's holdings in Lamar Advertising were worth $2,352,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Lamar Advertising by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust's stock valued at $1,517,554,000 after acquiring an additional 68,484 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lamar Advertising by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust's stock worth $159,283,000 after buying an additional 75,955 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Lamar Advertising by 81.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust's stock worth $112,052,000 after buying an additional 420,311 shares during the period. Centersquare Investment Management LLC raised its stake in shares of Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust's stock worth $72,031,000 after buying an additional 281,582 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Lamar Advertising by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust's stock worth $67,664,000 after buying an additional 22,382 shares during the period. Institutional investors own 93.78% of the company's stock.

Analyst Upgrades and Downgrades

LAMR has been the topic of several recent research reports. Wells Fargo & Company started coverage on Lamar Advertising in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $132.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. TD Cowen increased their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Citigroup cut Lamar Advertising from a "buy" rating to a "neutral" rating and set a $122.00 target price for the company. in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Lamar Advertising from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $125.00.

Lamar Advertising Price Performance

NASDAQ LAMR traded down $0.11 during trading on Wednesday, hitting $132.14. 650,770 shares of the stock traded hands, compared to its average volume of 277,965. The company has a market capitalization of $13.52 billion, a P/E ratio of 26.80 and a beta of 1.52. The firm has a 50-day simple moving average of $131.48 and a 200-day simple moving average of $122.65. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 12-month low of $91.20 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). The company had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. As a group, analysts predict that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.24%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising's dividend payout ratio (DPR) is presently 113.59%.

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.