Morningstar Investment Services LLC lessened its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 55.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,496 shares of the real estate investment trust's stock after selling 24,478 shares during the quarter. Morningstar Investment Services LLC's holdings in Lamar Advertising were worth $2,218,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Lamar Advertising during the first quarter worth approximately $28,000. ST Germain D J Co. Inc. lifted its position in Lamar Advertising by 346.0% during the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after buying an additional 218 shares in the last quarter. Bessemer Group Inc. lifted its position in Lamar Advertising by 106.7% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after buying an additional 143 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Lamar Advertising during the first quarter worth approximately $60,000. Finally, McIlrath & Eck LLC lifted its position in Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock worth $86,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.
Lamar Advertising Trading Down 0.5%
NASDAQ:LAMR traded down $0.58 on Friday, reaching $124.93. The company's stock had a trading volume of 419,743 shares, compared to its average volume of 530,892. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 30.32 and a beta of 1.33. The stock has a 50 day moving average price of $120.79 and a 200 day moving average price of $119.28.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $509.72 million. On average, equities analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.
Lamar Advertising Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid 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 4.96%. Lamar Advertising's payout ratio is presently 150.49%.
Wall Street Analyst Weigh In
LAMR has been the topic of a number of analyst reports. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Morgan Stanley reduced their price objective 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $134.00.
View Our Latest Report on Lamar Advertising
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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