Cetera Advisor Networks LLC Sells 1,329 Shares of Lamar Advertising (NASDAQ:LAMR)

Cetera Advisor Networks LLC cut its stake in Lamar Advertising (NASDAQ:LAMRFree Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,150 shares of the real estate investment trust’s stock after selling 1,329 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Lamar Advertising were worth $4,905,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Boston Partners raised its holdings in Lamar Advertising by 32.7% in the 4th quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock worth $313,871,000 after purchasing an additional 727,207 shares in the last quarter. Invesco Ltd. raised its holdings in Lamar Advertising by 43.4% in the 3rd quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock worth $141,352,000 after purchasing an additional 512,182 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Lamar Advertising by 2.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust’s stock worth $120,336,000 after purchasing an additional 39,292 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Lamar Advertising by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock worth $110,534,000 after purchasing an additional 30,567 shares in the last quarter. Finally, Makaira Partners LLC raised its holdings in Lamar Advertising by 31.7% in the 3rd quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust’s stock worth $63,159,000 after purchasing an additional 182,111 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $116.85 on Monday. Lamar Advertising has a one year low of $77.21 and a one year high of $122.22. The company’s 50-day moving average is $116.33 and its 200 day moving average is $111.05. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 23.99 and a beta of 1.50. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The firm had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. During the same period last year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts expect that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LAMR shares. JPMorgan Chase & Co. upped their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Finally, Morgan Stanley upped their target price on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th.

Read Our Latest Stock Report on Lamar Advertising

Insider Activity at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the transaction, the director now owns 32,178 shares in the company, valued at approximately $3,862,968.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 14.98% of the stock is currently owned by insiders.

Lamar Advertising Company Profile

(Free Report)

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.

Further Reading

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

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