Lamar Advertising Company (LAMR) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 45.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 84,829 shares of the real estate investment trust’s stock after acquiring an additional 26,540 shares during the period. Prudential Financial Inc. owned about 0.09% of Lamar Advertising worth $6,241,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Clinton Group Inc. purchased a new position in shares of Lamar Advertising during the 1st quarter worth approximately $650,000. Steinberg Global Asset Management purchased a new position in shares of Lamar Advertising during the 2nd quarter worth approximately $2,852,000. Louisiana State Employees Retirement System grew its holdings in shares of Lamar Advertising by 4.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the real estate investment trust’s stock worth $1,604,000 after acquiring an additional 900 shares during the period. First Trust Advisors LP grew its holdings in shares of Lamar Advertising by 30.6% during the 2nd quarter. First Trust Advisors LP now owns 94,066 shares of the real estate investment trust’s stock worth $6,920,000 after acquiring an additional 22,050 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Lamar Advertising by 44.6% during the 1st quarter. Sei Investments Co. now owns 95,770 shares of the real estate investment trust’s stock worth $7,157,000 after acquiring an additional 29,561 shares during the period. Hedge funds and other institutional investors own 85.09% of the company’s stock.

Shares of Lamar Advertising Company (NASDAQ:LAMR) opened at 63.94 on Friday. The stock has a market cap of $6.27 billion, a P/E ratio of 20.97 and a beta of 1.11. The company has a 50 day moving average price of $65.90 and a 200 day moving average price of $71.09. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09.

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

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

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

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

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