Tyers Asset Management LLC decreased its position in shares of Lamar Advertising Co (NASDAQ:LAMR) by 39.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,402 shares of the real estate investment trust’s stock after selling 11,110 shares during the quarter. Tyers Asset Management LLC’s holdings in Lamar Advertising were worth $1,379,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LAMR. Oregon Public Employees Retirement Fund grew its holdings in Lamar Advertising by 6,818.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,264,394 shares in the last quarter. Vanguard Group Inc grew its holdings in Lamar Advertising by 7.5% during the third quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock worth $965,072,000 after buying an additional 867,169 shares in the last quarter. Norges Bank bought a new stake in Lamar Advertising during the fourth quarter worth $45,636,000. Rothschild & Co. Asset Management US Inc. bought a new stake in Lamar Advertising during the fourth quarter worth $20,855,000. Finally, Millennium Management LLC grew its holdings in Lamar Advertising by 183.4% during the fourth quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock worth $25,244,000 after buying an additional 236,151 shares in the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.
Several equities research analysts recently issued reports on LAMR shares. BidaskClub upgraded Lamar Advertising from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. MKM Partners boosted their price objective on Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $78.50.
LAMR stock traded up $0.20 during midday trading on Friday, hitting $80.00. The company’s stock had a trading volume of 6,440 shares, compared to its average volume of 269,964. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.48. Lamar Advertising Co has a 1 year low of $64.51 and a 1 year high of $83.51. The stock has a market cap of $8.03 billion, a P/E ratio of 14.53 and a beta of 1.00.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.43). Lamar Advertising had a net margin of 20.68% and a return on equity of 30.95%. The firm had revenue of $384.50 million for the quarter, compared to analysts’ expectations of $384.84 million. During the same period in the prior year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, analysts forecast that Lamar Advertising Co will post 5.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.80%. Lamar Advertising’s dividend payout ratio is presently 69.82%.
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Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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