Punch & Associates Investment Management Inc. cut its stake in Lamar Advertising Co (NASDAQ:LAMR) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,269 shares of the real estate investment trust’s stock after selling 3,247 shares during the quarter. Punch & Associates Investment Management Inc. owned about 0.07% of Lamar Advertising worth $3,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of Lamar Advertising by 69.4% in the 4th quarter. Alliancebernstein L.P. now owns 402,208 shares of the real estate investment trust’s stock worth $29,860,000 after acquiring an additional 164,803 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Lamar Advertising by 483.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 43,727 shares of the real estate investment trust’s stock worth $3,247,000 after acquiring an additional 36,227 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of Lamar Advertising by 20.0% in the 4th quarter. State of Tennessee Treasury Department now owns 60,000 shares of the real estate investment trust’s stock worth $4,454,000 after acquiring an additional 10,000 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Lamar Advertising by 26.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 41,169 shares of the real estate investment trust’s stock worth $3,057,000 after acquiring an additional 8,727 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Lamar Advertising by 2.0% in the 4th quarter. Swiss National Bank now owns 142,438 shares of the real estate investment trust’s stock worth $10,575,000 after acquiring an additional 2,800 shares during the last quarter. 82.81% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Keith A. Istre sold 41,075 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $66.37, for a total transaction of $2,726,147.75. Following the completion of the transaction, the chief financial officer now directly owns 134,472 shares in the company, valued at approximately $8,924,906.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.64% of the company’s stock.

LAMR has been the subject of a number of recent analyst reports. BidaskClub downgraded Lamar Advertising from a “sell” rating to a “strong sell” rating in a research report on Friday, March 23rd. MKM Partners raised their price objective on Lamar Advertising from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, March 8th. Morgan Stanley raised their price objective on Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. TheStreet downgraded Lamar Advertising from a “b” rating to a “c+” rating in a research report on Wednesday, May 2nd. Finally, ValuEngine downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Lamar Advertising presently has an average rating of “Hold” and a consensus target price of $73.25.

Shares of NASDAQ:LAMR opened at $71.56 on Thursday. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market cap of $6.97 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 4.44 and a beta of 1.09. Lamar Advertising Co has a 12-month low of $61.36 and a 12-month high of $79.17.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.67. Lamar Advertising had a return on equity of 27.02% and a net margin of 18.69%. The company had revenue of $361.03 million during the quarter, compared to analysts’ expectations of $360.27 million. During the same period last year, the business posted $0.88 EPS. Lamar Advertising’s revenue for the quarter was up 4.2% on a year-over-year basis. sell-side analysts forecast that Lamar Advertising Co will post 5.32 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Thursday, June 14th. Lamar Advertising’s dividend payout ratio (DPR) is 72.08%.

Lamar Advertising Profile

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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