RKL Wealth Management LLC acquired a new position in Lamar Advertising Co (NASDAQ:LAMR) during the 3rd quarter, Holdings Channel reports. The fund acquired 18,220 shares of the real estate investment trust’s stock, valued at approximately $1,418,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in shares of Lamar Advertising by 2.2% in the 2nd quarter. Janus Henderson Group PLC now owns 8,276,817 shares of the real estate investment trust’s stock worth $565,389,000 after buying an additional 179,508 shares in the last quarter. BlackRock Inc. raised its stake in Lamar Advertising by 1.6% in the 2nd quarter. BlackRock Inc. now owns 7,987,014 shares of the real estate investment trust’s stock valued at $545,594,000 after purchasing an additional 126,718 shares during the last quarter. Schroder Investment Management Group raised its stake in Lamar Advertising by 214.2% in the 2nd quarter. Schroder Investment Management Group now owns 3,525,888 shares of the real estate investment trust’s stock valued at $75,220,000 after purchasing an additional 2,403,637 shares during the last quarter. Victory Capital Management Inc. raised its stake in Lamar Advertising by 7.3% in the 2nd quarter. Victory Capital Management Inc. now owns 3,065,269 shares of the real estate investment trust’s stock valued at $209,388,000 after purchasing an additional 207,394 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Lamar Advertising by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,303,819 shares of the real estate investment trust’s stock valued at $157,374,000 after purchasing an additional 165,182 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Shares of LAMR stock opened at $75.46 on Tuesday. Lamar Advertising Co has a twelve month low of $61.36 and a twelve month high of $80.68. The stock has a market capitalization of $7.52 billion, a P/E ratio of 14.94 and a beta of 1.13. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.43 and a quick ratio of 1.43.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, November 8th. The real estate investment trust reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.44). Lamar Advertising had a net margin of 18.57% and a return on equity of 27.51%. The company had revenue of $418.50 million for the quarter, compared to analyst estimates of $421.29 million. During the same period in the prior year, the company earned $0.98 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. On average, analysts expect that Lamar Advertising Co will post 5.09 EPS for the current year.

Several research analysts recently weighed in on LAMR shares. BidaskClub raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. ValuEngine downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Wells Fargo & Co boosted their target price on shares of Lamar Advertising from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday, August 9th. Finally, MKM Partners boosted their target price on shares of Lamar Advertising to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $77.33.

COPYRIGHT VIOLATION WARNING: This news story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://www.thecerbatgem.com/2018/11/13/18220-shares-in-lamar-advertising-co-lamr-acquired-by-rkl-wealth-management-llc.html.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

Featured Article: Dow Jones Industrial Average (DJIA)

Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising Co (NASDAQ:LAMR).

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.