Belpointe Asset Management LLC Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Belpointe Asset Management LLC bought a new stake in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) in the 4th quarter, HoldingsChannel.com reports. The firm bought 740 shares of the real estate investment trust’s stock, valued at approximately $70,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Securian Asset Management Inc. raised its stake in shares of Lamar Advertising by 1.3% in the 4th quarter. Securian Asset Management Inc. now owns 8,037 shares of the real estate investment trust’s stock valued at $759,000 after purchasing an additional 100 shares in the last quarter. Segment Wealth Management LLC grew its position in shares of Lamar Advertising by 19.3% in the 4th quarter. Segment Wealth Management LLC now owns 2,965 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 480 shares in the last quarter. MGO One Seven LLC increased its holdings in shares of Lamar Advertising by 3.9% in the 4th quarter. MGO One Seven LLC now owns 4,882 shares of the real estate investment trust’s stock valued at $461,000 after acquiring an additional 185 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Lamar Advertising by 8.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 5,105 shares of the real estate investment trust’s stock valued at $482,000 after acquiring an additional 388 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Lamar Advertising by 5.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 47,240 shares of the real estate investment trust’s stock worth $4,460,000 after purchasing an additional 2,618 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Jay Lecoryelle Johnson sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $95.63, for a total transaction of $573,780.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares in the company, valued at approximately $1,912,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 14.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LAMR. Citigroup boosted their target price on shares of Lamar Advertising from $108.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st. JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. Finally, StockNews.com assumed coverage on Lamar Advertising in a research report on Thursday. They issued a “hold” rating on the stock.

Lamar Advertising Stock Performance

LAMR opened at $94.53 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.71. The business’s 50 day moving average is $98.53 and its 200-day moving average is $99.14. The stock has a market cap of $9.63 billion, a PE ratio of 22.78 and a beta of 1.38. Lamar Advertising has a twelve month low of $81.10 and a twelve month high of $111.49.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.58). Lamar Advertising had a return on equity of 34.70% and a net margin of 20.59%. The business had revenue of $471.33 million during the quarter, compared to the consensus estimate of $470.51 million. During the same period in the previous year, the company posted $1.50 EPS. On average, analysts predict that Lamar Advertising will post 7.25 earnings per share for the current year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 19th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, June 15th. Lamar Advertising’s payout ratio is currently 120.48%.

Lamar Advertising Profile

(Get Rating)

Lamar Advertising Co engages in advertising services. The firm rents advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.