SG Americas Securities LLC Acquires New Shares in Lamar Advertising Company (NASDAQ:LAMR)

SG Americas Securities LLC acquired a new position in Lamar Advertising Company (NASDAQ:LAMR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,851 shares of the real estate investment trust’s stock, valued at approximately $1,007,000.

Several other hedge funds have also recently bought and sold shares of the business. Carmel Capital Partners LLC increased its holdings in shares of Lamar Advertising by 2.0% during the 4th quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust’s stock valued at $494,000 after acquiring an additional 81 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Lamar Advertising by 1.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust’s stock worth $867,000 after purchasing an additional 81 shares during the period. Sanctuary Advisors LLC boosted its position in Lamar Advertising by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust’s stock worth $2,442,000 after purchasing an additional 82 shares during the period. Harbour Investments Inc. grew its holdings in Lamar Advertising by 12.1% during the fourth quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 95 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. raised its position in shares of Lamar Advertising by 2.9% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,499 shares of the real estate investment trust’s stock valued at $426,000 after purchasing an additional 100 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $119.53 on Wednesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The company has a fifty day moving average price of $116.01 and a 200 day moving average price of $119.89. The stock has a market cap of $12.24 billion, a P/E ratio of 29.01 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising’s dividend payout ratio is 150.49%.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several recent analyst reports. Morgan Stanley decreased their price objective on shares of Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and raised their price target for the company from $114.00 to $135.00 in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $134.00.

Lamar Advertising 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.