8,344 Shares in Lamar Advertising Company (NASDAQ:LAMR) Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd purchased 8,344 shares of Lamar Advertising Company valued at approximately $949,000 in the first quarter, marking a new position for the fund.
• Lamar Advertising reported earnings per share of $1.60 for the quarter, exceeding the consensus estimate of $1.54, while the company had a net margin of 19.08% and a return on equity of 37.62%.
• The company declared a quarterly dividend of $1.55, resulting in an annualized yield of 5.1%, although the dividend payout ratio is currently at 150.49%.

XTX Topco Ltd bought a new position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,344 shares of the real estate investment trust's stock, valued at approximately $949,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cohen & Steers Inc. boosted its holdings in Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after purchasing an additional 2,180,011 shares during the last quarter. FMR LLC raised its stake in Lamar Advertising by 11.0% during the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock valued at $672,890,000 after buying an additional 545,606 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Lamar Advertising by 50.5% during the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock valued at $155,632,000 after buying an additional 428,744 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Lamar Advertising in the 4th quarter worth $48,023,000. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Lamar Advertising by 2,424.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 229,422 shares of the real estate investment trust's stock worth $27,930,000 after acquiring an additional 220,334 shares during the period. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $120.91 on Friday. The stock has a market cap of $12.38 billion, a P/E ratio of 29.35 and a beta of 1.36. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The stock's fifty day moving average is $122.16 and its 200 day moving average is $119.55. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The firm had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Sell-side analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Monday, June 16th. Lamar Advertising's dividend payout ratio is presently 150.49%.

Wall Street Analyst Weigh In

LAMR has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Lamar Advertising presently has a consensus rating of "Hold" and a consensus price target of $134.00.

Lamar Advertising Company 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.

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