Patriot Financial Group Insurance Agency LLC Raises Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 5.3% in the first quarter, Holdings Channel.com reports. The firm owned 7,868 shares of the real estate investment trust’s stock after buying an additional 394 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Lamar Advertising were worth $895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LAMR. Carmel Capital Partners LLC grew its position in shares of Lamar Advertising by 2.0% during the fourth quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust’s stock worth $494,000 after buying an additional 81 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Lamar Advertising by 1.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust’s stock worth $867,000 after purchasing an additional 81 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Lamar Advertising by 0.4% in the 4th quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust’s stock valued at $2,442,000 after purchasing an additional 82 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Lamar Advertising by 12.1% during the fourth quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 95 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. grew its stake in Lamar Advertising by 2.9% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,499 shares of the real estate investment trust’s stock worth $426,000 after purchasing an additional 100 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Finally, Morgan Stanley reduced their price objective on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $134.00.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $121.03 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. The firm’s 50-day moving average price is $114.21 and its two-hundred day moving average price is $120.41. Lamar Advertising has a 52-week low of $99.84 and a 52-week high of $139.88. The stock has a market capitalization of $12.39 billion, a P/E ratio of 34.29 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is 150.49%.

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.