Hennion & Walsh Asset Management Inc. lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 11.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,916 shares of the real estate investment trust's stock after purchasing an additional 2,305 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Lamar Advertising were worth $2,607,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of LAMR. ST Germain D J Co. Inc. grew its stake 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 acquiring an additional 218 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Lamar Advertising during the 1st quarter valued at about $554,000. NBC Securities Inc. grew its stake in Lamar Advertising by 124,533.3% during the 1st quarter. NBC Securities Inc. now owns 3,739 shares of the real estate investment trust's stock valued at $425,000 after acquiring an additional 3,736 shares in the last quarter. GAMMA Investing LLC grew its stake in Lamar Advertising by 10,231.4% during the 1st quarter. GAMMA Investing LLC now owns 78,622 shares of the real estate investment trust's stock valued at $8,946,000 after acquiring an additional 77,861 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Lamar Advertising by 370.2% during the 1st quarter. Versant Capital Management Inc now owns 2,116 shares of the real estate investment trust's stock valued at $241,000 after acquiring an additional 1,666 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.
Lamar Advertising Trading Up 0.8%
NASDAQ:LAMR traded up $0.93 on Friday, hitting $121.03. The stock had a trading volume of 385,721 shares, compared to its average volume of 521,156. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 34.29 and a beta of 1.34. The company has a fifty day moving average price of $114.21 and a two-hundred day moving average price of $120.41. Lamar Advertising has a 1-year low of $99.84 and a 1-year high of $139.88.
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 for the quarter, beating the consensus estimate of $1.54 by $0.06. The company had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Equities research analysts expect that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $1.55 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.20 annualized dividend and a yield of 5.12%. Lamar Advertising's payout ratio is 150.49%.
Wall Street Analysts Forecast Growth
LAMR has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, Morgan Stanley dropped their price objective on shares of 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $134.00.
Check Out Our Latest Report on Lamar Advertising
Lamar Advertising Company Profile
(
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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