Wealth Enhancement Advisory Services LLC Buys 6,171 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Wealth Enhancement Advisory Services LLC increased its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,394 shares of the real estate investment trust's stock after buying an additional 6,171 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Lamar Advertising were worth $4,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its position in Lamar Advertising by 2.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust's stock valued at $1,108,000 after acquiring an additional 215 shares during the period. Farther Finance Advisors LLC lifted its holdings in Lamar Advertising by 101.2% during the 1st quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock worth $277,000 after buying an additional 1,230 shares during the period. SG Americas Securities LLC bought a new stake in shares of Lamar Advertising in the 1st quarter valued at about $1,007,000. Jones Financial Companies Lllp grew its position in shares of Lamar Advertising by 6.3% in the 4th quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust's stock valued at $598,000 after buying an additional 292 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Lamar Advertising by 9.3% in the first quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock valued at $635,000 after buying an additional 475 shares during the period. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Down 0.3%

LAMR traded down $0.32 during trading on Friday, hitting $120.85. 2,250,915 shares of the company's stock were exchanged, compared to its average volume of 532,322. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The stock has a market cap of $12.37 billion, a P/E ratio of 29.33 and a beta of 1.34. The business's 50 day moving average is $117.40 and its two-hundred day moving average is $119.41. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89.

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, beating analysts' consensus estimates of $1.54 by $0.06. The business had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. As a group, equities analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LAMR shares. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price target for the stock from $114.00 to $135.00 in a report 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 report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $134.00.

Lamar Advertising Company 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.