Strategic Global Advisors LLC Sells 2,430 Shares of Lamar Advertising Company (LAMR)

Strategic Global Advisors LLC trimmed its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 13.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,053 shares of the real estate investment trust’s stock after selling 2,430 shares during the period. Strategic Global Advisors LLC’s holdings in Lamar Advertising were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LAMR. BlackRock Inc. grew its stake in Lamar Advertising by 16,176.3% in 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 in the last quarter. Victory Capital Management Inc. grew its stake in Lamar Advertising by 40,414.9% in the 1st quarter. Victory Capital Management Inc. now owns 1,326,053 shares of the real estate investment trust’s stock valued at $99,109,000 after buying an additional 1,322,780 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Lamar Advertising in the 2nd quarter valued at approximately $33,402,000. Miller Howard Investments Inc. NY grew its stake in Lamar Advertising by 29.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,110,749 shares of the real estate investment trust’s stock valued at $81,718,000 after buying an additional 250,608 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Lamar Advertising by 3.2% in 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 in the last quarter. Institutional investors and hedge funds own 85.09% of the company’s stock.

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Shares of Lamar Advertising Company (NASDAQ:LAMR) traded up 0.22% on Friday, reaching $63.94. 941,092 shares of the company’s stock traded hands. Lamar Advertising Company has a 52-week low of $58.68 and a 52-week high of $79.09. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 20.97 and a beta of 1.11. The firm’s 50-day moving average is $65.90 and its 200-day moving average is $71.09.

Lamar Advertising (NASDAQ:LAMR) last announced 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 Zacks’ consensus estimate of $1.31 by ($0.37). The firm had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. Analysts anticipate that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.

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

A number of research analysts recently weighed in on LAMR shares. ValuEngine lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Loop Capital reiterated a “buy” rating and issued a $87.00 price objective on shares of Lamar Advertising in a research note on Friday, June 9th. BidaskClub raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Wells Fargo & Company downgraded shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price 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.

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

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