Prudential PLC Sells 25,009 Shares of Lamar Advertising Company $LAMR

Prudential PLC reduced its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 36.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,462 shares of the real estate investment trust’s stock after selling 25,009 shares during the period. Prudential PLC’s holdings in Lamar Advertising were worth $5,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LAMR. True Wealth Design LLC increased its holdings in shares of Lamar Advertising by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 168 shares during the last quarter. 1248 Management LLC acquired a new stake in Lamar Advertising in the 1st quarter worth approximately $26,000. Ameritas Advisory Services LLC bought a new stake in Lamar Advertising during the second quarter worth approximately $28,000. HHM Wealth Advisors LLC boosted its position in Lamar Advertising by 26,900.0% during the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 269 shares during the period. Finally, Truvestments Capital LLC grew its holdings in Lamar Advertising by 79.5% during the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Wells Fargo & Company cut their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Lamar Advertising in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, Citigroup boosted their price objective on Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Lamar Advertising has an average rating of “Hold” and a consensus price target of $131.75.

Lamar Advertising Trading Up 2.7%

LAMR stock opened at $131.27 on Friday. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $135.91. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The business’s 50 day moving average is $122.58 and its 200-day moving average is $122.26. The firm has a market cap of $13.30 billion, a P/E ratio of 30.53 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The business had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. Equities analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Friday, September 19th. Lamar Advertising’s payout ratio is currently 145.54%.

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.