Vestcor Inc Has $3.20 Million Stock Holdings in Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• Vestcor Inc has reduced its stake in Lamar Advertising Company by 31.1%, now holding 28,103 shares valued at $3.2 million.
• Institutional investors own 93.78% of Lamar Advertising, with FMR LLC and Cohen & Steers Inc. significantly increasing their stakes in the fourth quarter.
• Lamar Advertising announced a quarterly dividend of $1.55, resulting in an annualized dividend yield of 5.04% despite a payout ratio of 150.49%.

Vestcor Inc lowered its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 31.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,103 shares of the real estate investment trust's stock after selling 12,658 shares during the period. Vestcor Inc's holdings in Lamar Advertising were worth $3,198,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LAMR. Golden State Wealth Management LLC acquired a new position in shares of Lamar Advertising in the first quarter valued at approximately $28,000. ST Germain D J Co. Inc. grew its holdings in Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 218 shares during the last quarter. Bessemer Group Inc. increased its position 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 acquiring an additional 143 shares during the period. Wayfinding Financial LLC acquired a new position in Lamar Advertising in the 1st quarter valued at approximately $60,000. Finally, McIlrath & Eck LLC raised its stake in shares of Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 450 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Trading Up 1.7%

LAMR stock traded up $2.05 during midday trading on Monday, hitting $122.96. The stock had a trading volume of 126,651 shares, compared to its average volume of 604,136. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89. The firm has a market cap of $12.59 billion, a P/E ratio of 29.85 and a beta of 1.36. The business has a fifty day moving average price of $122.16 and a two-hundred day moving average price of $119.54. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (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, sell-side analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, June 16th. Lamar Advertising's dividend payout ratio (DPR) is presently 150.49%.

Analyst Ratings Changes

Several brokerages recently issued reports on LAMR. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and raised their target price for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $136.00.

Lamar Advertising Company 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.