Beacon Financial Group trimmed its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 7.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,065 shares of the real estate investment trust's stock after selling 3,992 shares during the quarter. Beacon Financial Group owned 0.05% of Lamar Advertising worth $6,038,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LAMR. JPMorgan Chase & Co. boosted its holdings in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock valued at $200,093,000 after acquiring an additional 90,933 shares during the period. Blue Trust Inc. boosted its holdings in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 108 shares during the period. Trust Point Inc. purchased a new position in shares of Lamar Advertising in the 4th quarter valued at about $462,000. NovaPoint Capital LLC boosted its stake in shares of Lamar Advertising by 7.6% in the 4th quarter. NovaPoint Capital LLC now owns 3,777 shares of the real estate investment trust's stock valued at $460,000 after buying an additional 268 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of Lamar Advertising by 27.4% in the 4th quarter. Bleakley Financial Group LLC now owns 8,267 shares of the real estate investment trust's stock valued at $1,006,000 after buying an additional 1,776 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Stock Up 0.8%
Shares of NASDAQ LAMR traded up $0.93 during midday trading on Friday, hitting $121.03. 385,721 shares of the company's stock were exchanged, compared to its average volume of 521,156. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The company has a market cap of $12.39 billion, a PE ratio of 34.29 and a beta of 1.34. The firm's fifty day simple moving average is $114.21 and its 200-day simple moving average is $120.41.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. Research analysts predict that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Monday, June 16th. Lamar Advertising's dividend payout ratio (DPR) is presently 150.49%.
Analyst Ratings Changes
Several brokerages have recently issued reports on LAMR. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Finally, Morgan Stanley decreased their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $134.00.
View Our Latest Research Report on LAMR
About Lamar Advertising
(
Free Report)
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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