Lamar Advertising (NASDAQ:LAMR) Shares Sold by Barclays PLC

Barclays PLC trimmed its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 1.1% during the 3rd quarter, Holdings Channel reports. The fund owned 78,866 shares of the real estate investment trust’s stock after selling 911 shares during the quarter. Barclays PLC’s holdings in Lamar Advertising were worth $10,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LAMR. Blue Trust Inc. grew its stake in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group acquired a new stake in Lamar Advertising during the third quarter valued at $25,000. Whittier Trust Co. increased its holdings in Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Lamar Advertising in the third quarter worth about $26,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising during the 2nd quarter worth about $30,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $129.89 on Tuesday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88. The firm has a market capitalization of $13.30 billion, a PE ratio of 25.80 and a beta of 1.50. The business’s 50 day moving average price is $132.21 and its 200-day moving average price is $125.12.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.04 EPS. As a group, equities research analysts expect that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.31%. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LAMR shares. Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upped their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Lamar Advertising has a consensus rating of “Hold” and a consensus target price of $132.40.

About Lamar Advertising

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.