Waratah Capital Advisors Ltd. Trims Stock Position in Lamar Advertising (NASDAQ:LAMR)

Waratah Capital Advisors Ltd. reduced its stake in shares of Lamar Advertising (NASDAQ:LAMRGet Rating) by 42.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,240 shares of the real estate investment trust’s stock after selling 309,349 shares during the quarter. Lamar Advertising makes up about 0.6% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 15th biggest holding. Waratah Capital Advisors Ltd.’s holdings in Lamar Advertising were worth $48,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Teacher Retirement System of Texas grew its position in Lamar Advertising by 6.0% during the 1st quarter. Teacher Retirement System of Texas now owns 17,804 shares of the real estate investment trust’s stock valued at $2,068,000 after purchasing an additional 1,005 shares during the last quarter. M&T Bank Corp lifted its stake in Lamar Advertising by 74.8% during the 1st quarter. M&T Bank Corp now owns 4,469 shares of the real estate investment trust’s stock valued at $519,000 after acquiring an additional 1,913 shares during the period. Qube Research & Technologies Ltd lifted its stake in Lamar Advertising by 1,208.9% during the 1st quarter. Qube Research & Technologies Ltd now owns 54,582 shares of the real estate investment trust’s stock valued at $6,341,000 after acquiring an additional 50,412 shares during the period. Los Angeles Capital Management LLC bought a new position in Lamar Advertising during the 1st quarter valued at about $7,008,000. Finally, Independent Advisor Alliance lifted its stake in Lamar Advertising by 9.2% during the 1st quarter. Independent Advisor Alliance now owns 4,196 shares of the real estate investment trust’s stock valued at $488,000 after acquiring an additional 355 shares during the period. 78.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, Director Anna Reilly sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $90.17, for a total transaction of $901,700.00. Following the completion of the sale, the director now directly owns 145,928 shares of the company’s stock, valued at approximately $13,158,327.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 14.99% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ LAMR traded up $0.55 on Friday, reaching $100.62. 250,829 shares of the stock were exchanged, compared to its average volume of 493,393. Lamar Advertising has a one year low of $83.96 and a one year high of $124.32. The firm has a market capitalization of $10.21 billion, a PE ratio of 22.41 and a beta of 1.38. The company’s 50-day simple moving average is $93.29 and its two-hundred day simple moving average is $103.65. The company has a current ratio of 0.64, a quick ratio of 0.71 and a debt-to-equity ratio of 2.43.

Lamar Advertising (NASDAQ:LAMRGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Lamar Advertising had a net margin of 23.52% and a return on equity of 37.09%. During the same quarter last year, the company posted $1.75 earnings per share. Analysts expect that Lamar Advertising will post 6.95 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 20th were issued a dividend of $1.20 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Thursday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is 106.90%.

Analyst Ratings Changes

Several research firms have issued reports on LAMR. StockNews.com cut shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 2nd. Morgan Stanley increased their price objective on shares of Lamar Advertising from $103.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Citigroup upgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $112.00 to $108.00 in a research note on Thursday, July 7th.

Lamar Advertising Profile

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Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 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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