Navellier & Associates Inc. Has $618,000 Stock Position in Lamar Advertising (NASDAQ:LAMR)

Navellier & Associates Inc. reduced its position in Lamar Advertising (NASDAQ:LAMR) by 22.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,624 shares of the real estate investment trust’s stock after selling 1,311 shares during the period. Navellier & Associates Inc.’s holdings in Lamar Advertising were worth $618,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its position in Lamar Advertising by 444.1% during 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. Whittier Trust Co. lifted its position in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Concord Wealth Partners acquired a new stake in Lamar Advertising during the third quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new stake in Lamar Advertising during the second quarter worth approximately $30,000. Finally, Assetmark Inc. lifted its position in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LAMR has been the subject of a number of analyst reports. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $129.27 on Friday. The company’s 50 day simple moving average is $132.36 and its 200 day simple moving average is $123.60. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 25.85 and a beta of 1.52. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 1 year low of $97.52 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results 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 return on equity of 42.58% and a net margin of 23.46%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 EPS. As a group, research analysts predict that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is presently 112.00%.

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.