Berry Wealth Group LP Buys Shares of 2,223 Lamar Advertising Company (NASDAQ:LAMR)

Berry Wealth Group LP acquired a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,223 shares of the real estate investment trust's stock, valued at approximately $253,000.

Other hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. lifted its stake in shares of Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after buying an additional 2,180,011 shares in the last quarter. FMR LLC lifted its stake in shares of Lamar Advertising by 11.0% in the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock worth $672,890,000 after buying an additional 545,606 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Lamar Advertising by 108.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock worth $110,220,000 after buying an additional 470,805 shares in the last quarter. Norges Bank bought a new position in shares of Lamar Advertising in the fourth quarter worth approximately $57,255,000. Finally, Northern Trust Corp lifted its stake in shares of Lamar Advertising by 50.5% in the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after buying an additional 428,744 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LAMR. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their target price for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley dropped their target price on shares of Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Lamar Advertising currently has an average rating of "Hold" and an average target price of $134.00.

Lamar Advertising Stock Performance

Shares of LAMR traded down $0.32 during mid-day trading on Friday, hitting $120.85. 2,250,915 shares of the company traded hands, compared to its average volume of 532,322. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a 50-day moving average price of $117.64 and a two-hundred day moving average price of $119.35. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 29.33 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. The firm had revenue of $505.43 million during the quarter, compared to analysts' expectations of $509.72 million. Equities analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.55 per share. The ex-dividend date is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.13%. Lamar Advertising's dividend payout ratio is currently 150.49%.

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.