Oak Thistle LLC Acquires 8,208 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Oak Thistle LLC increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 395.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,283 shares of the real estate investment trust's stock after purchasing an additional 8,208 shares during the period. Oak Thistle LLC's holdings in Lamar Advertising were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in LAMR. Golden State Wealth Management LLC acquired a new position in Lamar Advertising in the 1st quarter valued at $28,000. ST Germain D J Co. Inc. grew its stake in Lamar Advertising by 346.0% in 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 buying an additional 218 shares during the last quarter. Bessemer Group Inc. grew its stake in Lamar Advertising by 106.7% in the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 143 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Lamar Advertising in the 1st quarter valued at $60,000. Finally, McIlrath & Eck LLC grew its position in Lamar Advertising by 175.1% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LAMR. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price target for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Morgan Stanley dropped 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 research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $134.00.

Lamar Advertising Trading Up 0.4%

NASDAQ:LAMR traded up $0.44 during mid-day trading on Friday, hitting $125.42. 252,823 shares of the company's stock were exchanged, compared to its average volume of 477,589. The company has a 50 day simple moving average of $121.51 and a 200-day simple moving average of $119.43. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The firm has a market capitalization of $12.84 billion, a P/E ratio of 30.44 and a beta of 1.33.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. As a group, research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business 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 annualized dividend and a dividend yield of 4.94%. Lamar Advertising's dividend payout ratio is currently 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.