Neuberger Berman Group LLC Cuts Position in Lamar Advertising Co (LAMR)
Neuberger Berman Group LLC trimmed its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,675 shares of the real estate investment trust’s stock after selling 285 shares during the quarter. Neuberger Berman Group LLC’s holdings in Lamar Advertising were worth $675,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Belpointe Asset Management LLC purchased a new position in Lamar Advertising in the third quarter worth $106,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in Lamar Advertising in the second quarter worth $137,000. Vectors Research Management LLC purchased a new position in Lamar Advertising in the third quarter worth $158,000. Qube Research & Technologies Ltd purchased a new position in Lamar Advertising in the second quarter worth $164,000. Finally, McKinley Carter Wealth Services Inc. purchased a new position in Lamar Advertising in the third quarter worth $200,000. 81.29% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on LAMR shares. Zacks Investment Research raised shares of Lamar Advertising from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Tuesday, December 11th. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, December 7th. ValuEngine lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. BidaskClub raised shares of Lamar Advertising from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 15th. Finally, Wolfe Research initiated coverage on shares of Lamar Advertising in a report on Friday, December 7th. They set an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $78.33.
Shares of LAMR opened at $72.81 on Friday. The firm has a market cap of $7.09 billion, a PE ratio of 14.42 and a beta of 1.07. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.43 and a current ratio of 1.43. Lamar Advertising Co has a 1-year low of $61.36 and a 1-year high of $80.68.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, November 8th. The real estate investment trust reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.44). The company had revenue of $418.50 million for the quarter, compared to analysts’ expectations of $421.29 million. Lamar Advertising had a net margin of 18.57% and a return on equity of 27.51%. Lamar Advertising’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. Sell-side analysts anticipate that Lamar Advertising Co will post 5.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Monday, December 17th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, December 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.91. This represents a $3.68 dividend on an annualized basis and a yield of 5.05%. Lamar Advertising’s payout ratio is currently 72.87%.
Lamar Advertising Profile
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.
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