Coastline Trust Co Makes New $134,000 Investment in Lamar Advertising (NASDAQ:LAMR)

Coastline Trust Co bought a new stake in shares of Lamar Advertising (NASDAQ:LAMR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,000 shares of the real estate investment trust’s stock, valued at approximately $134,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LAMR. Blue Trust Inc. grew its stake in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Lamar Advertising in the third quarter worth approximately $26,000. Whittier Trust Co. raised its stake in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. Assetmark Inc. lifted its holdings in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 117 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 0.6 %

Shares of NASDAQ LAMR opened at $126.35 on Friday. The company has a market cap of $12.93 billion, a P/E ratio of 25.27 and a beta of 1.52. The firm has a 50-day simple moving average of $132.11 and a two-hundred day simple moving average of $123.32. Lamar Advertising has a 1 year low of $95.83 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 EPS. Research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 112.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LAMR. Morgan Stanley lifted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. TD Cowen increased their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lowered their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $132.40.

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.