Lamar Advertising (NASDAQ:LAMR) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC decreased its holdings in Lamar Advertising (NASDAQ:LAMR) by 53.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629 shares of the real estate investment trust’s stock after selling 723 shares during the quarter. LGT Financial Advisors LLC’s holdings in Lamar Advertising were worth $75,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Lamar Advertising by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock valued at $1,517,554,000 after buying an additional 68,484 shares during the last quarter. Boston Partners raised its position in shares of Lamar Advertising by 32.7% in the 4th quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock valued at $313,871,000 after purchasing an additional 727,207 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Lamar Advertising by 0.4% in the 1st quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock worth $210,889,000 after purchasing an additional 7,794 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Lamar Advertising during the 4th quarter worth approximately $111,255,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Lamar Advertising by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after purchasing an additional 30,567 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Down 1.1 %

NASDAQ LAMR opened at $124.37 on Friday. The business’s fifty day simple moving average is $119.28 and its 200-day simple moving average is $117.02. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The firm has a market cap of $12.72 billion, a PE ratio of 25.54 and a beta of 1.52. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $126.80.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. During the same period last year, the firm posted $1.90 earnings per share. Lamar Advertising’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, September 18th will be paid a dividend of $1.40 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is presently 114.99%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.25.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.