Lamar Advertising (NASDAQ:LAMR) is Van Cleef Asset Management Inc’s 6th Largest Position

Van Cleef Asset Management Inc lowered its position in Lamar Advertising (NASDAQ:LAMR) by 1.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 208,281 shares of the real estate investment trust’s stock after selling 2,813 shares during the period. Lamar Advertising accounts for approximately 3.1% of Van Cleef Asset Management Inc’s portfolio, making the stock its 6th biggest holding. Van Cleef Asset Management Inc owned approximately 0.20% of Lamar Advertising worth $24,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LAMR. SPC Financial Inc. grew its holdings in Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 103 shares in the last quarter. Woodward Diversified Capital LLC increased its holdings in shares of Lamar Advertising by 2.6% during the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Lamar Advertising by 1.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock valued at $789,000 after buying an additional 114 shares during the period. Simplicity Wealth LLC lifted its holdings in Lamar Advertising by 0.4% in the second quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock valued at $3,301,000 after acquiring an additional 121 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Lamar Advertising by 1.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.2 %

Shares of NASDAQ:LAMR opened at $123.04 on Wednesday. The firm has a 50 day simple moving average of $119.64 and a 200-day simple moving average of $117.48. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $126.80. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $12.59 billion, a PE ratio of 25.26 and a beta of 1.52.

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

Lamar Advertising Increases Dividend

The company also recently declared 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 represents a $5.60 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 106.78%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen raised their price objective on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price 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.