Raymond James Trust N.A. Decreases Stake in Lamar Advertising (NASDAQ:LAMR)

Raymond James Trust N.A. lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,002 shares of the real estate investment trust’s stock after selling 501 shares during the quarter. Raymond James Trust N.A.’s holdings in Lamar Advertising were worth $401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boston Trust Walden Corp grew its stake in Lamar Advertising by 2.3% in the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock worth $47,774,000 after purchasing an additional 8,857 shares in the last quarter. Csenge Advisory Group acquired a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $722,000. Natixis Advisors LLC increased its holdings in shares of Lamar Advertising by 13.1% in the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock valued at $7,225,000 after acquiring an additional 6,979 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Lamar Advertising by 179.4% during the 2nd quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock valued at $2,226,000 after acquiring an additional 11,967 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Lamar Advertising during the third quarter worth $43,665,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LAMR has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of 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. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, TD Cowen raised their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $133.08 on Wednesday. The company has a 50-day moving average price of $132.52 and a two-hundred day moving average price of $124.01. Lamar Advertising has a 52 week low of $97.54 and a 52 week high of $139.88. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 26.62 and a beta of 1.52. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

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

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.