Miller Howard Investments Inc. NY Sells 4,396 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Miller Howard Investments Inc. NY lessened its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 318,028 shares of the real estate investment trust's stock after selling 4,396 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.31% of Lamar Advertising worth $36,185,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LAMR. Oppenheimer Asset Management Inc. bought a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $368,000. Proficio Capital Partners LLC bought a new stake in Lamar Advertising in the 4th quarter valued at $3,557,000. US Bancorp DE increased its holdings in Lamar Advertising by 9.0% in the 4th quarter. US Bancorp DE now owns 8,128 shares of the real estate investment trust's stock valued at $989,000 after acquiring an additional 670 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Lamar Advertising by 6.3% in the 4th quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust's stock worth $598,000 after purchasing an additional 292 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Lamar Advertising by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust's stock valued at $1,108,000 after purchasing an additional 215 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock traded down $0.19 during trading hours on Thursday, reaching $124.14. The company's stock had a trading volume of 334,535 shares, compared to its average volume of 530,904. The firm has a 50 day moving average price of $118.68 and a 200-day moving average price of $119.18. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $12.71 billion, a P/E ratio of 30.13 and a beta of 1.33. Lamar Advertising Company has a one year low of $99.84 and a one year 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, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The company had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. On average, analysts predict 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. Investors of record on Monday, June 16th were issued 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 4.99%. Lamar Advertising's payout ratio is presently 150.49%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. 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 upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising has a consensus 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.