Ontario Teachers Pension Plan Board lessened its holdings in Lamar Advertising (NASDAQ:LAMR – Free Report) by 91.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,112 shares of the real estate investment trust’s stock after selling 33,719 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Lamar Advertising were worth $311,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. SVB Wealth LLC increased its position in shares of Lamar Advertising by 0.6% during the 4th quarter. SVB Wealth LLC now owns 17,807 shares of the real estate investment trust’s stock worth $1,681,000 after purchasing an additional 104 shares during the last quarter. EP Wealth Advisors LLC raised its position in Lamar Advertising by 2.8% during the first quarter. EP Wealth Advisors LLC now owns 4,129 shares of the real estate investment trust’s stock worth $480,000 after acquiring an additional 112 shares in the last quarter. Continuum Advisory LLC raised its position in Lamar Advertising by 2.5% during the first quarter. Continuum Advisory LLC now owns 4,606 shares of the real estate investment trust’s stock worth $460,000 after acquiring an additional 113 shares in the last quarter. Franklin Resources Inc. lifted its stake in Lamar Advertising by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 35,191 shares of the real estate investment trust’s stock valued at $3,322,000 after acquiring an additional 116 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of Lamar Advertising by 0.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 20,438 shares of the real estate investment trust’s stock valued at $2,042,000 after acquiring an additional 121 shares during the period. Institutional investors and hedge funds own 79.80% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on LAMR. Morgan Stanley dropped their price objective on Lamar Advertising from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, August 7th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, September 8th.
Lamar Advertising Trading Down 2.6 %
Shares of NASDAQ:LAMR opened at $85.50 on Monday. Lamar Advertising has a 12-month low of $81.10 and a 12-month high of $111.49. The business has a 50 day moving average of $92.86 and a 200-day moving average of $95.78. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.71. The stock has a market cap of $8.72 billion, a PE ratio of 20.80 and a beta of 1.39.
Lamar Advertising (NASDAQ:LAMR – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 34.91% and a net margin of 20.19%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS.
Lamar Advertising Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Friday, September 15th. Lamar Advertising’s dividend payout ratio is 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.
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