Legacy Financial Group LLC Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Legacy Financial Group LLC acquired a new position in Lamar Advertising (NASDAQ:LAMR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,565 shares of the real estate investment trust’s stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in Lamar Advertising in the third quarter worth $43,665,000. JPMorgan Chase & Co. raised its position in shares of Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after purchasing an additional 90,933 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Lamar Advertising by 19,961.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after purchasing an additional 109,790 shares during the last quarter. Franklin Resources Inc. grew its stake in Lamar Advertising by 39.8% during the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after acquiring an additional 14,672 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Lamar Advertising by 96.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after buying an additional 47,746 shares during the period. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LAMR. Wells Fargo & Company reduced their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. TD Cowen raised their price objective 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. Morgan Stanley lifted 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, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Performance

Shares of LAMR opened at $128.10 on Monday. The firm has a 50-day moving average price of $126.16 and a 200 day moving average price of $126.33. The firm has a market capitalization of $13.11 billion, a PE ratio of 25.62 and a beta of 1.50. 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 $102.10 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted 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 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 the consensus estimate of $568.91 million. During the same quarter last year, the business posted $2.04 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio is presently 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.