Private Advisor Group LLC Acquires 576 Shares of Lamar Advertising (NASDAQ:LAMR)

Private Advisor Group LLC lifted its holdings in Lamar Advertising (NASDAQ:LAMRFree Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,630 shares of the real estate investment trust’s stock after acquiring an additional 576 shares during the period. Private Advisor Group LLC’s holdings in Lamar Advertising were worth $1,389,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Boston Partners lifted its holdings in shares of 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 valued at $313,871,000 after acquiring an additional 727,207 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 during the period. Wellington Management Group LLP purchased a new stake in Lamar Advertising in the 4th quarter worth about $111,255,000. Charles Schwab Investment Management Inc. raised its position 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 during the period. Finally, Morningstar Investment Services LLC raised its position in Lamar Advertising by 97.6% in the 4th quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after purchasing an additional 451,429 shares during the period. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st.

Check Out Our Latest Stock Report on LAMR

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $117.57 on Thursday. The firm has a market cap of $12.02 billion, a PE ratio of 24.14 and a beta of 1.52. The firm’s 50 day simple moving average is $117.89 and its 200-day simple moving average is $113.11. Lamar Advertising has a one year low of $77.21 and a one year high of $122.22. 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 issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). The company had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $1.41 earnings per share. As a group, equities analysts predict that Lamar Advertising will post 7.69 EPS for the current year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Insider Transactions at Lamar Advertising

In other news, Director John E. Koerner III sold 17,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.98% of the company’s stock.

About Lamar Advertising

(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.

See Also

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

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