Cerity Partners LLC lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 59.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,743 shares of the real estate investment trust's stock after buying an additional 9,948 shares during the period. Cerity Partners LLC's holdings in Lamar Advertising were worth $3,043,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of LAMR. Golden State Wealth Management LLC acquired a new position in Lamar Advertising during the 1st quarter worth approximately $28,000. ST Germain D J Co. Inc. increased its holdings in Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 218 shares during the period. Bessemer Group Inc. grew its holdings in shares of Lamar Advertising by 106.7% during 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 during the period. Wayfinding Financial LLC bought a new stake in shares of Lamar Advertising in the 1st quarter worth approximately $60,000. Finally, McIlrath & Eck LLC lifted its position in Lamar Advertising by 175.1% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 450 shares in the last quarter. Institutional investors own 93.78% of the company's stock.
Lamar Advertising Stock Performance
Shares of Lamar Advertising stock traded down $0.58 on Friday, reaching $124.93. 419,743 shares of the stock were exchanged, compared to its average volume of 530,892. The firm has a market capitalization of $12.79 billion, a PE ratio of 30.32 and a beta of 1.33. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88. The business has a fifty day moving average price of $120.79 and a two-hundred day moving average price of $119.28. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The company had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. 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 business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $1.55 per share. The ex-dividend date was Monday, June 16th. This represents a $6.20 annualized dividend and a yield of 4.96%. Lamar Advertising's dividend payout ratio (DPR) is 150.49%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on LAMR. Morgan Stanley reduced 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 raised Lamar Advertising from a "neutral" rating to a "buy" rating and upped their target price for the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising has an average rating of "Hold" and an average target price of $134.00.
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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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