Choreo LLC boosted its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 297.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,882 shares of the real estate investment trust's stock after purchasing an additional 9,639 shares during the quarter. Choreo LLC's holdings in Lamar Advertising were worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its holdings in Lamar Advertising by 183.1% during the 1st quarter. Allianz Asset Management GmbH now owns 6,380 shares of the real estate investment trust's stock worth $726,000 after purchasing an additional 4,126 shares during the last quarter. Private Advisor Group LLC raised its holdings in Lamar Advertising by 6.5% during the 1st quarter. Private Advisor Group LLC now owns 12,904 shares of the real estate investment trust's stock worth $1,468,000 after purchasing an additional 783 shares during the last quarter. Markel Group Inc. raised its holdings in Lamar Advertising by 10.5% during the 1st quarter. Markel Group Inc. now owns 137,000 shares of the real estate investment trust's stock worth $15,588,000 after purchasing an additional 13,000 shares during the last quarter. Easterly Investment Partners LLC raised its holdings in Lamar Advertising by 269.4% during the 1st quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust's stock worth $18,061,000 after purchasing an additional 115,762 shares during the last quarter. Finally, Tributary Capital Management LLC raised its holdings in Lamar Advertising by 4.3% during the 1st quarter. Tributary Capital Management LLC now owns 10,104 shares of the real estate investment trust's stock worth $1,150,000 after purchasing an additional 412 shares during the last quarter. 93.78% of the stock is owned by institutional investors.
Lamar Advertising Trading Down 0.4%
Shares of Lamar Advertising stock traded down $0.55 during trading on Monday, hitting $124.87. 67,017 shares of the company were exchanged, compared to its average volume of 606,190. The firm has a market capitalization of $12.79 billion, a P/E 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 firm's fifty day moving average price is $121.51 and its 200 day moving average price is $119.42. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. The company had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. As a group, sell-side analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $1.55 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 4.97%. Lamar Advertising's dividend payout ratio is presently 150.49%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on LAMR shares. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley dropped their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $134.00.
Check Out Our Latest Stock 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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