New Age Alpha Advisors LLC Has $4.67 Million Position in Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• New Age Alpha Advisors LLC has increased its stake in Lamar Advertising Company by 100.8%, owning 41,039 shares valued at $4.67 million.
• Lamar Advertising reported a quarterly EPS of $1.60, exceeding analyst expectations, with revenue of $505.43 million for the quarter.
• The company recently declared a dividend of $1.55 per share, resulting in an annualized payout of $6.20 and a yield of 4.9%.

New Age Alpha Advisors LLC increased its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 100.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,039 shares of the real estate investment trust's stock after buying an additional 20,602 shares during the period. New Age Alpha Advisors LLC's holdings in Lamar Advertising were worth $4,669,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Lamar Advertising by 0.3% during the first quarter. PNC Financial Services Group Inc. now owns 45,464 shares of the real estate investment trust's stock valued at $5,173,000 after purchasing an additional 155 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Lamar Advertising during the first quarter valued at approximately $3,991,000. Endeavor Private Wealth Inc. grew its holdings in Lamar Advertising by 376.2% during the first quarter. Endeavor Private Wealth Inc. now owns 4,986 shares of the real estate investment trust's stock valued at $567,000 after purchasing an additional 3,939 shares during the last quarter. Commerce Bank grew its holdings in Lamar Advertising by 1.8% during the first quarter. Commerce Bank now owns 29,011 shares of the real estate investment trust's stock valued at $3,301,000 after purchasing an additional 523 shares during the last quarter. Finally, ProVise Management Group LLC grew its holdings in Lamar Advertising by 1.5% during the first quarter. ProVise Management Group LLC now owns 33,736 shares of the real estate investment trust's stock valued at $3,838,000 after purchasing an additional 497 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Lamar Advertising Trading Up 1.5%

Shares of Lamar Advertising stock opened at $125.59 on Wednesday. The company's fifty day simple moving average is $122.47 and its 200-day simple moving average is $119.57. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 30.48 and a beta of 1.36. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89. Lamar Advertising Company 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. As a group, sell-side analysts expect that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid 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 yield of 4.9%. Lamar Advertising's payout ratio is currently 150.49%.

Analysts Set New Price Targets

LAMR has been the topic of several analyst reports. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $136.00.

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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