Berry Wealth Group LP Takes $253,000 Position in Lamar Advertising Company (NASDAQ:LAMR)

Berry Wealth Group LP bought a new stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,223 shares of the real estate investment trust's stock, valued at approximately $253,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Lamar Advertising in the fourth quarter valued at $25,000. ST Germain D J Co. Inc. increased its stake in Lamar Advertising by 346.0% during the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 218 shares during the last quarter. Bessemer Group Inc. increased its stake in Lamar Advertising by 106.7% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 143 shares during the last quarter. McIlrath & Eck LLC increased its stake in Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock worth $86,000 after acquiring an additional 450 shares during the last quarter. Finally, GeoWealth Management LLC increased its stake in Lamar Advertising by 100.8% during the fourth quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust's stock worth $94,000 after acquiring an additional 388 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Lamar Advertising Price Performance

LAMR stock opened at $120.92 on Tuesday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The firm has a market cap of $12.38 billion, a P/E ratio of 29.35 and a beta of 1.35. The stock has a 50-day simple moving average of $116.67 and a 200-day simple moving average of $119.47.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. On average, equities analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

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

Lamar Advertising Profile

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.

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