SG Americas Securities LLC bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,851 shares of the real estate investment trust's stock, valued at approximately $1,007,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Accurate Wealth Management LLC boosted its position in shares of Lamar Advertising by 19.0% during the 1st quarter. Accurate Wealth Management LLC now owns 3,159 shares of the real estate investment trust's stock worth $357,000 after acquiring an additional 505 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Lamar Advertising in the 1st quarter valued at about $793,000. Farther Finance Advisors LLC boosted its position in shares of Lamar Advertising by 101.2% in the 1st quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock valued at $277,000 after purchasing an additional 1,230 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Lamar Advertising by 5.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 7,868 shares of the real estate investment trust's stock valued at $895,000 after purchasing an additional 394 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Lamar Advertising by 54.9% in the 1st quarter. UMB Bank n.a. now owns 1,086 shares of the real estate investment trust's stock valued at $124,000 after purchasing an additional 385 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.
Lamar Advertising Price Performance
NASDAQ LAMR traded up $0.26 during mid-day trading on Thursday, hitting $119.79. The stock had a trading volume of 490,492 shares, compared to its average volume of 522,827. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 29.08 and a beta of 1.34. The company has a 50 day simple moving average of $116.13 and a 200 day simple moving average of $119.89. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data 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. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The business had revenue of $505.43 million for the quarter, compared to analysts' expectations of $509.72 million. Equities analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.
Lamar Advertising Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising's dividend payout ratio (DPR) is presently 150.49%.
Analyst Ratings Changes
A number of research firms have weighed in on LAMR. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company 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 for the company in a research note on Thursday, May 1st. Finally, Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and increased their target price for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Lamar Advertising currently has an average rating of "Hold" and a consensus target price of $134.00.
Check Out Our Latest Stock Analysis on Lamar Advertising
Lamar Advertising Company Profile
(
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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