Twin City Private Wealth LLC Grows Stock Holdings in Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• Twin City Private Wealth LLC increased its holdings in Lamar Advertising by 13.8% in Q1, owning 20,060 shares valued at approximately $2.28 million.
• Analysts have set new price targets for Lamar Advertising, with Citigroup upgrading it from "neutral" to "buy" and elevating the price target from $114 to $135.
• Lamar Advertising recently announced a quarterly dividend of $1.55 per share, representing an annualized yield of 4.9%, although its dividend payout ratio stands at a high 150.49%.

Twin City Private Wealth LLC raised its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 13.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,060 shares of the real estate investment trust's stock after buying an additional 2,430 shares during the period. Lamar Advertising makes up approximately 2.0% of Twin City Private Wealth LLC's portfolio, making the stock its 18th largest position. Twin City Private Wealth LLC's holdings in Lamar Advertising were worth $2,282,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Golden State Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the 1st quarter valued at $28,000. HHM Wealth Advisors LLC increased its holdings in Lamar Advertising by 26,900.0% in the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 269 shares during the last quarter. Bessemer Group Inc. raised its stake in Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 143 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings 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 buying an additional 218 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Lamar Advertising during the 1st quarter worth about $60,000. Institutional investors and hedge funds own 93.78% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and raised their target price for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Morgan Stanley increased 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 note on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of "Hold" and a consensus price target of $136.00.

Lamar Advertising Stock Performance

Shares of LAMR traded down $9.25 during midday trading on Friday, reaching $115.50. 2,301,608 shares of the stock were exchanged, compared to its average volume of 436,382. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $139.88. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 28.03 and a beta of 1.36. The business's 50-day moving average price is $122.60 and its 200 day moving average price is $119.51.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. On average, sell-side analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.55 per share. The ex-dividend date was Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.4%. Lamar Advertising's dividend payout ratio (DPR) is 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.