Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 6.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,254 shares of the real estate investment trust’s stock after acquiring an additional 204 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lamar Advertising were worth $239,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Lamar Advertising by 16,176.3% during the 1st quarter. BlackRock Inc. now owns 7,078,578 shares of the real estate investment trust’s stock valued at $529,055,000 after buying an additional 7,035,088 shares during the last quarter. Vanguard Group Inc. raised its holdings in Lamar Advertising by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,602,786 shares of the real estate investment trust’s stock valued at $493,493,000 after buying an additional 204,052 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Lamar Advertising by 81.2% during the 2nd quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock valued at $176,805,000 after buying an additional 1,077,170 shares during the last quarter. State Street Corp raised its holdings in Lamar Advertising by 2.2% during the 1st quarter. State Street Corp now owns 2,166,811 shares of the real estate investment trust’s stock valued at $161,945,000 after buying an additional 46,863 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in Lamar Advertising by 7.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 1,570,441 shares of the real estate investment trust’s stock valued at $115,537,000 after buying an additional 103,579 shares during the last quarter. Institutional investors own 85.09% of the company’s stock.

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Shares of Lamar Advertising Company (NASDAQ LAMR) opened at 63.94 on Friday. Lamar Advertising Company has a 12-month low of $58.68 and a 12-month high of $79.09. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 20.97 and a beta of 1.11. The company’s 50-day moving average is $65.90 and its 200-day moving average is $71.09.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.37). The company had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. Analysts predict that Lamar Advertising Company will post $3.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.83 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.32 dividend on an annualized basis and a yield of 5.19%. Lamar Advertising’s dividend payout ratio is presently 109.21%.

LAMR has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. BidaskClub lowered shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Loop Capital reiterated a “buy” rating and set a $87.00 price target on shares of Lamar Advertising in a report on Friday, June 9th. MKM Partners lowered their price target on shares of Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $73.40.

About Lamar Advertising

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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

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