Boston Partners Sells 36,991 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• Boston Partners reduced its stake in Lamar Advertising Company by 1.5%, owning approximately 2.33% of the company, valued at $271.57 million after selling 36,991 shares.
• Lamar Advertising reported EPS of $2.22 for the last quarter, exceeding the consensus estimate of $1.48, with a revenue of $579.31 million, slightly below expectations.
• The company recently declared a quarterly dividend of $1.55, reflecting a 5.3% yield and a payout ratio of 144.19%.

Boston Partners lowered its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,386,990 shares of the real estate investment trust's stock after selling 36,991 shares during the quarter. Boston Partners owned 2.33% of Lamar Advertising worth $271,571,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Lamar Advertising by 7.1% during the fourth quarter. Bank of Montreal Can now owns 18,168 shares of the real estate investment trust's stock valued at $2,212,000 after purchasing an additional 1,203 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Lamar Advertising by 270.2% in the 4th quarter. Renaissance Technologies LLC now owns 53,312 shares of the real estate investment trust's stock worth $6,490,000 after acquiring an additional 38,912 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Lamar Advertising in the 4th quarter worth about $48,023,000. Bessemer Group Inc. lifted its stake in Lamar Advertising by 106.7% in the 4th 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 in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Lamar Advertising by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 38,287 shares of the real estate investment trust's stock worth $4,661,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Performance

Shares of LAMR stock traded down $0.28 during mid-day trading on Thursday, reaching $121.22. The stock had a trading volume of 706,928 shares, compared to its average volume of 597,363. The firm's 50 day simple moving average is $122.43 and its 200 day simple moving average is $119.28. The company has a quick ratio of 0.57, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The firm has a market cap of $12.41 billion, a PE ratio of 28.19 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. The business had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. On average, analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current year.

Wall Street Analyst Weigh In

LAMR has been the subject of several research analyst reports. Citigroup raised 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. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $134.20.

Lamar Advertising 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.