Lamar Advertising Company (NASDAQ:LAMR) Shares Sold by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in Lamar Advertising Company by 44.3%, selling 27,430 shares and holding 34,443 shares valued at approximately $3.9 million.
• Several institutional investors have increased their stakes in Lamar Advertising, including FMR LLC and Cohen & Steers Inc., reflecting strong interest among institutional investors, who currently own 93.78% of the stock.
• Lamar Advertising recently announced a quarterly dividend of $1.55 per share, translating to an annual yield of 4.96%, although the dividend payout ratio stands at a high 150.49%.

Knights of Columbus Asset Advisors LLC lessened its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 44.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 34,443 shares of the real estate investment trust's stock after selling 27,430 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Lamar Advertising were worth $3,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Private Management Group Inc. boosted its stake in shares of Lamar Advertising by 7.3% in the first quarter. Private Management Group Inc. now owns 173,959 shares of the real estate investment trust's stock valued at $19,793,000 after buying an additional 11,835 shares in the last quarter. Assetmark Inc. raised its position in Lamar Advertising by 40.1% in the first quarter. Assetmark Inc. now owns 36,470 shares of the real estate investment trust's stock worth $4,150,000 after acquiring an additional 10,442 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in Lamar Advertising by 11.0% in the first quarter. Avantax Advisory Services Inc. now owns 26,792 shares of the real estate investment trust's stock valued at $3,048,000 after acquiring an additional 2,661 shares during the period. Gilbert & Cook Inc. boosted its position in shares of Lamar Advertising by 2.7% during the 1st quarter. Gilbert & Cook Inc. now owns 4,455 shares of the real estate investment trust's stock worth $507,000 after purchasing an additional 117 shares in the last quarter. Finally, Burney Co. boosted its position in shares of Lamar Advertising by 5.5% during the 1st quarter. Burney Co. now owns 13,327 shares of the real estate investment trust's stock worth $1,516,000 after purchasing an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Price Performance

NASDAQ LAMR traded down $0.03 during trading hours on Tuesday, reaching $124.58. The company's stock had a trading volume of 99,868 shares, compared to its average volume of 604,450. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $12.76 billion, a PE ratio of 30.21 and a beta of 1.33. The company's 50-day moving average is $121.61 and its two-hundred day moving average is $119.46. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $509.72 million. Analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $1.55 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.98%. Lamar Advertising's dividend payout ratio (DPR) is 150.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and increased their target price for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Lamar Advertising presently has an average rating of "Hold" and a consensus target price of $134.00.

About Lamar Advertising

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.