International Assets Investment Management LLC Buys Shares of 58,241 Lamar Advertising (NASDAQ:LAMR)

International Assets Investment Management LLC purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR) in the fourth quarter, HoldingsChannel reports. The fund purchased 58,241 shares of the real estate investment trust’s stock, valued at approximately $6,190,000.

Other institutional investors have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC acquired a new stake in Lamar Advertising during the third quarter worth approximately $30,000. Signaturefd LLC grew its position in shares of Lamar Advertising by 43.7% in the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 150 shares during the period. Arlington Trust Co LLC acquired a new position in Lamar Advertising in the fourth quarter valued at $57,000. Sunbelt Securities Inc. lifted its position in Lamar Advertising by 249.0% during the third quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 503 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Lamar Advertising in the 3rd quarter worth about $108,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.7 %

Shares of LAMR opened at $117.51 on Wednesday. The stock has a market cap of $11.99 billion, a PE ratio of 24.13 and a beta of 1.49. The stock’s 50-day moving average is $115.30 and its two-hundred day moving average is $106.49. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $121.99. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Lamar Advertising’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.30 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Thursday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Analyst Ratings Changes

Several research firms recently issued reports on LAMR. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, Morgan Stanley lifted their target price on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, February 26th.

Insider Activity

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 14.98% of the company’s stock.

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.