JPMorgan Chase & Co. Purchases 378,374 Shares of Lamar Advertising (NASDAQ:LAMR)

JPMorgan Chase & Co. boosted its position in shares of Lamar Advertising (NASDAQ:LAMRGet Rating) by 48.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,154,284 shares of the real estate investment trust’s stock after purchasing an additional 378,374 shares during the quarter. JPMorgan Chase & Co. owned about 1.14% of Lamar Advertising worth $101,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Lamar Advertising during the 1st quarter worth about $46,000. Cambridge Trust Co. bought a new stake in Lamar Advertising during the 1st quarter worth about $55,000. Benjamin Edwards Inc. raised its holdings in Lamar Advertising by 52.5% during the 1st quarter. Benjamin Edwards Inc. now owns 540 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 186 shares during the last quarter. Parallel Advisors LLC raised its holdings in Lamar Advertising by 102.1% during the 2nd quarter. Parallel Advisors LLC now owns 681 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 344 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Lamar Advertising by 167.8% during the 1st quarter. Covestor Ltd now owns 1,090 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 683 shares during the last quarter. 80.15% of the stock is owned by institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $98.04 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $9.97 billion, a PE ratio of 20.09 and a beta of 1.37. The stock has a 50-day moving average of $89.46 and a 200-day moving average of $93.48. Lamar Advertising has a one year low of $81.10 and a one year high of $124.32.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a $1.20 dividend. The ex-dividend date was Friday, September 16th. This represents a $4.80 annualized dividend and a dividend yield of 4.90%. Lamar Advertising’s dividend payout ratio is presently 98.36%.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Lamar Advertising in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Morgan Stanley upped their price target on Lamar Advertising from $103.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th.

Lamar Advertising Profile

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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

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

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