Private Advisor Group LLC Invests $338,000 in Lamar Advertising (NASDAQ:LAMR)

Private Advisor Group LLC bought a new position in Lamar Advertising (NASDAQ:LAMR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,382 shares of the real estate investment trust’s stock, valued at approximately $338,000.

Several other hedge funds also recently made changes to their positions in LAMR. Invesco Ltd. lifted its stake in shares of Lamar Advertising by 186.6% in the first quarter. Invesco Ltd. now owns 1,418,785 shares of the real estate investment trust’s stock valued at $164,834,000 after purchasing an additional 923,689 shares during the period. Norges Bank acquired a new stake in shares of Lamar Advertising in the fourth quarter valued at about $79,703,000. Morgan Stanley lifted its stake in shares of Lamar Advertising by 50.3% in the fourth quarter. Morgan Stanley now owns 1,384,858 shares of the real estate investment trust’s stock valued at $130,731,000 after purchasing an additional 463,212 shares during the period. Anchor Capital Advisors LLC lifted its stake in shares of Lamar Advertising by 257.8% in the first quarter. Anchor Capital Advisors LLC now owns 521,878 shares of the real estate investment trust’s stock valued at $52,130,000 after purchasing an additional 376,006 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Lamar Advertising by 535.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 373,268 shares of the real estate investment trust’s stock valued at $35,236,000 after purchasing an additional 314,507 shares during the period. Institutional investors and hedge funds own 79.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LAMR. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Thursday, August 31st. Morgan Stanley reduced their price objective on shares of Lamar Advertising from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th.

Lamar Advertising Stock Performance

Shares of LAMR opened at $91.48 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.71. The stock has a market cap of $9.33 billion, a P/E ratio of 22.26 and a beta of 1.39. The company has a 50-day moving average of $94.86 and a two-hundred day moving average of $96.90. Lamar Advertising has a 12-month low of $81.10 and a 12-month high of $111.49.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $541.10 million during the quarter, compared to the consensus estimate of $535.00 million. Lamar Advertising had a net margin of 20.19% and a return on equity of 34.91%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 earnings per share. As a group, research analysts predict that Lamar Advertising will post 7.25 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.47%. Lamar Advertising’s dividend payout ratio (DPR) is presently 121.65%.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in North America. It operates approximately 363,000 displays across the United States and Canada. It offers advertisers a range of billboard, interstate logo, transit, and airport advertising formats helping local businesses and national brands.