Charter Trust Co. lowered its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 33.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,157 shares of the real estate investment trust’s stock after selling 3,623 shares during the quarter. Charter Trust Co.’s holdings in Lamar Advertising were worth $367,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in LAMR. FMR LLC grew its position in shares of Lamar Advertising by 5.5% during the first quarter. FMR LLC now owns 293,906 shares of the real estate investment trust’s stock worth $23,295,000 after purchasing an additional 15,311 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Lamar Advertising by 7.9% during the 4th quarter. Russell Investments Group Ltd. now owns 41,732 shares of the real estate investment trust’s stock valued at $3,722,000 after buying an additional 3,047 shares in the last quarter. Creative Planning grew its holdings in Lamar Advertising by 17.2% during the 4th quarter. Creative Planning now owns 5,329 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 781 shares in the last quarter. First Trust Advisors LP grew its holdings in Lamar Advertising by 2.9% during the 4th quarter. First Trust Advisors LP now owns 131,442 shares of the real estate investment trust’s stock valued at $11,733,000 after buying an additional 3,709 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Lamar Advertising by 7.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,286 shares of the real estate investment trust’s stock valued at $740,000 after buying an additional 609 shares in the last quarter. Hedge funds and other institutional investors own 78.22% of the company’s stock.
In other Lamar Advertising news, Director John E. Koerner III purchased 17,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $66.32 per share, with a total value of $1,127,440.00. 15.02% of the stock is currently owned by company insiders.
Shares of Lamar Advertising stock traded down $5.06 on Thursday, reaching $66.13. The company had a trading volume of 25,607 shares, compared to its average volume of 949,249. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 19.83 and a beta of 1.38. The company has a debt-to-equity ratio of 3.91, a current ratio of 1.46 and a quick ratio of 1.46. The firm’s 50-day moving average price is $62.75 and its two-hundred day moving average price is $74.50. Lamar Advertising Co has a 1 year low of $30.89 and a 1 year high of $96.82.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. Lamar Advertising had a return on equity of 31.25% and a net margin of 20.35%. The firm had revenue of $406.57 million during the quarter, compared to analysts’ expectations of $396.04 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts anticipate that Lamar Advertising Co will post 4.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, June 19th. Lamar Advertising’s dividend payout ratio is currently 68.97%.
Several research firms have weighed in on LAMR. Morgan Stanley raised their price target on Lamar Advertising from $92.00 to $94.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. MKM Partners cut their price target on Lamar Advertising from $92.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, April 13th. Citigroup raised their price target on Lamar Advertising from $40.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, May 18th. BidaskClub upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine cut Lamar Advertising from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.40.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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