Stifel Financial Corp Reduces Stock Position in Lamar Advertising (NASDAQ:LAMR)

Stifel Financial Corp trimmed its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,422 shares of the real estate investment trust’s stock after selling 1,267 shares during the period. Stifel Financial Corp’s holdings in Lamar Advertising were worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Foundations Investment Advisors LLC raised its stake in Lamar Advertising by 2.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock worth $500,000 after acquiring an additional 80 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Lamar Advertising by 0.7% during the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock worth $1,576,000 after purchasing an additional 82 shares during the last quarter. Jamison Private Wealth Management Inc. increased its position in shares of Lamar Advertising by 6.6% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 84 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Lamar Advertising by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust’s stock valued at $341,000 after purchasing an additional 85 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Lamar Advertising by 1.0% in the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock valued at $1,329,000 after purchasing an additional 97 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on LAMR. Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report 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 lifted 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 note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Lamar Advertising presently has an average rating of “Hold” and an average price target of $132.40.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $129.00 on Monday. The business has a 50 day simple moving average of $132.21 and a 200-day simple moving average of $125.05. Lamar Advertising has a 12 month low of $100.15 and a 12 month high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50.

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

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, December 18th. Lamar Advertising’s dividend payout ratio is presently 112.00%.

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.