Hennion & Walsh Asset Management Inc. Has $2.61 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

Hennion & Walsh Asset Management Inc. grew its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 11.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,916 shares of the real estate investment trust's stock after buying an additional 2,305 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Lamar Advertising were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. ST Germain D J Co. Inc. boosted its stake in Lamar Advertising by 346.0% during the 1st 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. Merit Financial Group LLC acquired a new stake in Lamar Advertising in the first quarter worth $554,000. NBC Securities Inc. raised its holdings in Lamar Advertising by 124,533.3% in the first quarter. NBC Securities Inc. now owns 3,739 shares of the real estate investment trust's stock worth $425,000 after purchasing an additional 3,736 shares during the period. GAMMA Investing LLC boosted its position in shares of Lamar Advertising by 10,231.4% during the first quarter. GAMMA Investing LLC now owns 78,622 shares of the real estate investment trust's stock worth $8,946,000 after purchasing an additional 77,861 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Lamar Advertising by 370.2% during the first quarter. Versant Capital Management Inc now owns 2,116 shares of the real estate investment trust's stock worth $241,000 after purchasing an additional 1,666 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LAMR shares. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the company from $114.00 to $135.00 in a research report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley cut their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Four equities research 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 a consensus rating of "Hold" and a consensus target price of $134.00.

Lamar Advertising Stock Up 0.8%

NASDAQ LAMR traded up $0.93 on Friday, reaching $121.03. The company had a trading volume of 385,721 shares, compared to its average volume of 518,652. The company's fifty day moving average is $114.06 and its 200-day moving average is $120.57. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 34.29 and a beta of 1.34. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 1-year low of $99.84 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.12%. 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.