Advisor Group Inc. Grows Stake in Lamar Advertising Company (LAMR)
Advisor Group Inc. increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 22.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,029 shares of the real estate investment trust’s stock after purchasing an additional 752 shares during the period. Advisor Group Inc.’s holdings in Lamar Advertising were worth $295,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keybank National Association OH increased its position in shares of Lamar Advertising by 7.8% during the second quarter. Keybank National Association OH now owns 25,399 shares of the real estate investment trust’s stock valued at $1,869,000 after purchasing an additional 1,839 shares during the period. Steinberg Global Asset Management bought a new stake in shares of Lamar Advertising during the second quarter valued at approximately $2,852,000. Louisiana State Employees Retirement System increased its position in shares of Lamar Advertising by 4.3% during the second quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the real estate investment trust’s stock valued at $1,604,000 after purchasing an additional 900 shares during the period. First Trust Advisors LP increased its position in shares of Lamar Advertising by 30.6% during the second quarter. First Trust Advisors LP now owns 94,066 shares of the real estate investment trust’s stock valued at $6,920,000 after purchasing an additional 22,050 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lamar Advertising during the second quarter valued at approximately $33,402,000. Institutional investors and hedge funds own 85.05% of the company’s stock.
Shares of Lamar Advertising Company (NASDAQ:LAMR) opened at 69.51 on Friday. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09. The company has a 50-day moving average price of $66.04 and a 200 day moving average price of $69.77. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 22.80 and a beta of 1.09.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.37). Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The company had revenue of $397.10 million for the quarter, compared to the consensus estimate of $399.09 million. During the same quarter last year, the business earned $0.84 EPS. Lamar Advertising’s revenue was up 2.5% on a year-over-year basis. Analysts expect that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.83 per share. The ex-dividend date was Thursday, September 14th. This represents a $3.32 dividend on an annualized basis and a yield of 4.78%. Lamar Advertising’s dividend payout ratio (DPR) is presently 109.21%.
LAMR has been the topic of a number of research reports. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub cut Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Wells Fargo & Company cut Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. Finally, MKM Partners lowered their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $73.00.
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Lamar Advertising Profile
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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