Thrivent Financial for Lutherans Has $3.79 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Thrivent Financial for Lutherans lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 27.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,382 shares of the real estate investment trust's stock after purchasing an additional 6,034 shares during the quarter. Thrivent Financial for Lutherans' holdings in Lamar Advertising were worth $3,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LAMR. Dimensional Fund Advisors LP lifted its stake in shares of Lamar Advertising by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust's stock worth $159,283,000 after acquiring an additional 75,955 shares during the period. Massachusetts Financial Services Co. MA lifted its position in 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 purchasing an additional 420,311 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Lamar Advertising by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust's stock valued at $67,664,000 after purchasing an additional 22,382 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Lamar Advertising by 2.0% during the 3rd quarter. Boston Trust Walden Corp now owns 407,813 shares of the real estate investment trust's stock valued at $54,484,000 after purchasing an additional 8,135 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Lamar Advertising by 3.8% in the 2nd quarter. Raymond James & Associates now owns 370,275 shares of the real estate investment trust's stock worth $44,259,000 after buying an additional 13,444 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LAMR shares. StockNews.com lowered Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Wells Fargo & Company cut 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. TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating 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 company. According to MarketBeat.com, Lamar Advertising currently has an average rating of "Hold" and a consensus price target of $132.40.

Lamar Advertising Trading Up 2.4 %

Shares of NASDAQ:LAMR traded up $3.07 during mid-day trading on Monday, hitting $133.42. The stock had a trading volume of 586,627 shares, compared to its average volume of 409,147. Lamar Advertising has a 12-month low of $97.54 and a 12-month high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $13.66 billion, a PE ratio of 26.55 and a beta of 1.52. The company's 50 day moving average is $132.41 and its 200-day moving average is $123.82.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) 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 analysts' consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business had revenue of $564.10 million for the quarter, compared to analysts' expectations of $568.91 million. During the same quarter in the prior year, the firm posted $2.04 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.20%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising's dividend payout ratio is 112.00%.

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.