Alpha Omega Wealth Management LLC Acquires 469 Shares of Lamar Advertising (NASDAQ:LAMR)

Alpha Omega Wealth Management LLC increased its holdings in Lamar Advertising (NASDAQ:LAMR) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,188 shares of the real estate investment trust’s stock after purchasing an additional 469 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Lamar Advertising were worth $590,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rialto Wealth Management LLC purchased a new position in Lamar Advertising during the 4th quarter valued at approximately $25,000. ST Germain D J Co. Inc. grew its holdings in shares of Lamar Advertising by 346.0% in the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 218 shares in the last quarter. Bessemer Group Inc. increased its position in Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 143 shares during the last quarter. McIlrath & Eck LLC raised its stake in Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 450 shares in the last quarter. Finally, GeoWealth Management LLC lifted its position in Lamar Advertising by 100.8% during the fourth quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 388 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $121.67 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The company’s 50 day moving average is $114.55 and its 200 day moving average is $120.35. The company has a market cap of $12.46 billion, a PE ratio of 34.47 and a beta of 1.35.

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

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 5.10%. Lamar Advertising’s dividend payout ratio is presently 150.49%.

Analyst Upgrades and Downgrades

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

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.