Janney Montgomery Scott LLC Sells 2,147 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Janney Montgomery Scott LLC reduced its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,169 shares of the real estate investment trust's stock after selling 2,147 shares during the period. Janney Montgomery Scott LLC's holdings in Lamar Advertising were worth $5,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LAMR. Dynamic Advisor Solutions LLC raised its holdings in Lamar Advertising by 1.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 44,961 shares of the real estate investment trust's stock worth $5,116,000 after purchasing an additional 537 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Lamar Advertising by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,394 shares of the real estate investment trust's stock worth $4,824,000 after buying an additional 6,171 shares during the period. Fifth Third Bancorp grew its position in shares of Lamar Advertising by 9.3% in the 1st quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock worth $635,000 after buying an additional 475 shares during the period. Alpha Omega Wealth Management LLC increased its stake in shares of Lamar Advertising by 9.9% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 5,188 shares of the real estate investment trust's stock worth $590,000 after acquiring an additional 469 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its position in Lamar Advertising by 480.5% during the 1st quarter. Integrated Advisors Network LLC now owns 21,367 shares of the real estate investment trust's stock valued at $2,431,000 after acquiring an additional 17,686 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LAMR shares. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley dropped their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $134.00.

Lamar Advertising Stock Up 1.6%

Lamar Advertising stock traded up $1.91 during mid-day trading on Thursday, reaching $121.17. The stock had a trading volume of 409,587 shares, compared to its average volume of 524,744. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The company has a 50-day moving average price of $117.16 and a two-hundred day moving average price of $119.48. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 29.41 and a beta of 1.34. 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 issued 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. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. The business had revenue of $505.43 million during the quarter, compared to analysts' expectations of $509.72 million. On average, analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Monday, June 16th. Lamar Advertising's payout ratio is 150.49%.

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.