Allianz Asset Management GmbH Boosts Stake in Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• Allianz Asset Management GmbH increased its stake in Lamar Advertising Company by 183.1% during the 1st quarter, bringing their total holdings to $726,000.
• Wall Street analysts have mixed outlooks on Lamar Advertising, with Citigroup upgrading its rating from "neutral" to "buy" and raising the target price to $135.00, while Morgan Stanley cut its target from $135.00 to $125.00.
• Lamar Advertising recently declared a quarterly dividend of $1.55 per share, resulting in an annualized dividend yield of 5.1%, despite a high dividend payout ratio of 150.49%.

Allianz Asset Management GmbH increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 183.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,380 shares of the real estate investment trust's stock after purchasing an additional 4,126 shares during the quarter. Allianz Asset Management GmbH's holdings in Lamar Advertising were worth $726,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LAMR. Golden State Wealth Management LLC acquired a new stake in Lamar Advertising in the first quarter valued at $28,000. Bessemer Group Inc. raised its holdings in shares of Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 143 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Lamar Advertising by 346.0% in the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Lamar Advertising in the first quarter worth $60,000. Finally, McIlrath & Eck LLC raised its holdings in shares of Lamar Advertising by 175.1% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock worth $86,000 after acquiring an additional 450 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Trading Up 2.3%

Shares of NASDAQ:LAMR traded up $2.80 during midday trading on Monday, reaching $123.71. The company's stock had a trading volume of 382,426 shares, compared to its average volume of 423,686. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 15.04 and a beta of 1.36. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The business has a 50 day moving average price of $122.16 and a 200 day moving average price of $119.54.

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

Lamar Advertising Announces Dividend

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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Monday, June 16th. Lamar Advertising's payout ratio is 150.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $136.00.

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.