Pallas Capital Advisors LLC purchased a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,971 shares of the real estate investment trust's stock, valued at approximately $793,000.
A number of other institutional investors have also recently made changes to their positions in LAMR. Cohen & Steers Inc. boosted its position in shares of Lamar Advertising by 453.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock valued at $323,900,000 after purchasing an additional 2,180,011 shares in the last quarter. FMR LLC boosted its position in shares of Lamar Advertising by 11.0% during the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock valued at $672,890,000 after purchasing an additional 545,606 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Lamar Advertising by 108.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after purchasing an additional 470,805 shares in the last quarter. Norges Bank bought a new stake in shares of Lamar Advertising during the 4th quarter valued at about $57,255,000. Finally, Northern Trust Corp boosted its position in shares of Lamar Advertising by 50.5% during the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock valued at $155,632,000 after purchasing an additional 428,744 shares in the last quarter. Institutional investors own 93.78% of the company's stock.
Lamar Advertising Stock Down 1.8%
NASDAQ:LAMR traded down $2.19 on Friday, hitting $119.26. The stock had a trading volume of 358,545 shares, compared to its average volume of 521,578. The business's fifty day moving average is $115.55 and its 200 day moving average is $120.09. The company has a market cap of $12.21 billion, a PE ratio of 33.78 and a beta of 1.35. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 52 week low of $99.84 and a 52 week high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly 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. The business had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, equities research analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $1.55 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.20%. Lamar Advertising's dividend payout ratio is presently 150.49%.
Analyst Ratings Changes
LAMR has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Morgan Stanley cut their target price 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. Finally, Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price target for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Lamar Advertising has an average rating of "Hold" and an average price target of $134.00.
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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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