Prospera Financial Services Inc Makes New $155,000 Investment in Lamar Advertising (NASDAQ:LAMR)

Prospera Financial Services Inc purchased a new position in shares of Lamar Advertising (NASDAQ:LAMRGet Rating) during the first quarter, Holdings Channel.com reports. The fund purchased 1,335 shares of the real estate investment trust’s stock, valued at approximately $155,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LAMR. Victory Capital Management Inc. raised its position in shares of Lamar Advertising by 19.6% during the 1st quarter. Victory Capital Management Inc. now owns 3,064,685 shares of the real estate investment trust’s stock worth $355,953,000 after purchasing an additional 502,135 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Lamar Advertising by 22.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 634,654 shares of the real estate investment trust’s stock worth $76,985,000 after purchasing an additional 115,374 shares during the period. Eudaimonia Advisors LLC acquired a new stake in shares of Lamar Advertising during the 4th quarter worth approximately $13,389,000. Daiwa Securities Group Inc. raised its position in shares of Lamar Advertising by 7.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,421,294 shares of the real estate investment trust’s stock worth $172,403,000 after purchasing an additional 98,651 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Lamar Advertising by 332.1% during the 4th quarter. Mackenzie Financial Corp now owns 124,824 shares of the real estate investment trust’s stock worth $15,141,000 after purchasing an additional 95,934 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LAMR shares. Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $112.00 to $108.00 in a research report on Thursday, July 7th. StockNews.com cut Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 2nd. Finally, Morgan Stanley raised their target price on Lamar Advertising from $103.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.33.

Lamar Advertising Stock Down 0.0 %

LAMR opened at $100.07 on Friday. Lamar Advertising has a 12 month low of $83.96 and a 12 month high of $124.32. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $10.16 billion, a P/E ratio of 23.00 and a beta of 1.38. The stock’s 50 day moving average price is $93.26 and its 200 day moving average price is $103.73.

Lamar Advertising (NASDAQ:LAMRGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. During the same quarter last year, the company posted $1.75 earnings per share. As a group, research analysts predict that Lamar Advertising will post 6.95 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 20th were paid a dividend of $1.20 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Thursday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is presently 110.35%.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, Director Anna Reilly sold 10,000 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $90.17, for a total transaction of $901,700.00. Following the completion of the transaction, the director now directly owns 145,928 shares of the company’s stock, valued at approximately $13,158,327.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.99% of the stock is currently owned by corporate insiders.

About Lamar Advertising

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Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

See Also

Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising (NASDAQ:LAMRGet Rating).

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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