Benedict Financial Advisors Inc. Purchases Shares of 15,362 Lamar Advertising Company $LAMR

Benedict Financial Advisors Inc. acquired a new position in Lamar Advertising Company (NASDAQ:LAMR) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 15,362 shares of the real estate investment trust’s stock, valued at approximately $1,881,000.

A number of other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Lamar Advertising by 31.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 45,951 shares of the real estate investment trust’s stock worth $5,625,000 after purchasing an additional 10,982 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Lamar Advertising by 0.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,106 shares of the real estate investment trust’s stock worth $11,785,000 after buying an additional 733 shares during the period. Meixler Investment Management Ltd. grew its stake in shares of Lamar Advertising by 47.0% in the second quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the real estate investment trust’s stock valued at $1,171,000 after buying an additional 3,086 shares in the last quarter. Creative Planning raised its holdings in shares of Lamar Advertising by 22.0% during the 2nd quarter. Creative Planning now owns 16,087 shares of the real estate investment trust’s stock valued at $1,952,000 after buying an additional 2,905 shares during the period. Finally, Gateway Investment Advisers LLC lifted its position in Lamar Advertising by 89.4% during the 3rd quarter. Gateway Investment Advisers LLC now owns 74,254 shares of the real estate investment trust’s stock worth $9,090,000 after acquiring an additional 35,048 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $128.00 on Friday. The firm has a fifty day moving average of $129.32 and a two-hundred day moving average of $125.43. The firm has a market cap of $12.96 billion, a P/E ratio of 30.05 and a beta of 1.23. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $134.63. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.59 and a quick ratio of 0.59.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. The business had revenue of $585.54 million for the quarter, compared to analysts’ expectations of $584.00 million. Lamar Advertising had a net margin of 19.27% and a return on equity of 43.02%. As a group, research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, December 22nd. Lamar Advertising’s payout ratio is 145.54%.

Analysts Set New Price Targets

LAMR has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a research note on Monday, December 29th. Morgan Stanley set a $140.00 price target on shares of Lamar Advertising in a report on Tuesday, December 16th. Citigroup boosted their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $133.00.

About Lamar Advertising

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.