State Street Corp Has $161.95 Million Position in Lamar Advertising Company (LAMR)
State Street Corp raised its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,166,811 shares of the real estate investment trust’s stock after buying an additional 46,863 shares during the period. State Street Corp owned 2.21% of Lamar Advertising Company worth $161,945,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Leith Wheeler Investment Counsel Ltd. bought a new position in shares of Lamar Advertising Company during the first quarter worth approximately $1,236,000. Beacon Financial Group raised its position in shares of Lamar Advertising Company by 0.7% in the first quarter. Beacon Financial Group now owns 113,971 shares of the real estate investment trust’s stock valued at $8,546,000 after buying an additional 841 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Lamar Advertising Company by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 74,944 shares of the real estate investment trust’s stock valued at $5,039,000 after buying an additional 8,452 shares during the last quarter. Norges Bank acquired a new position in shares of Lamar Advertising Company during the fourth quarter valued at about $46,223,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Lamar Advertising Company by 3.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 29,902 shares of the real estate investment trust’s stock valued at $2,010,000 after buying an additional 1,090 shares during the last quarter. 85.76% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Company (LAMR) traded down 0.54% during mid-day trading on Friday, hitting $72.02. 466,530 shares of the stock traded hands. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09.
Lamar Advertising Company (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by $0.49. The firm had revenue of $346.40 million for the quarter, compared to the consensus estimate of $347.06 million. Lamar Advertising Company had a return on equity of 27.42% and a net margin of 19.18%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. On average, equities research analysts forecast that Lamar Advertising Company will post $3.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.61%. The ex-dividend date was Tuesday, June 13th. Lamar Advertising Company’s payout ratio is currently 112.93%.
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Several equities analysts have issued reports on LAMR shares. Zacks Investment Research lowered shares of Lamar Advertising Company from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. MKM Partners reaffirmed a “neutral” rating and issued a $72.00 price objective (down previously from $73.00) on shares of Lamar Advertising Company in a report on Friday, May 5th. ValuEngine cut shares of Lamar Advertising Company from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Loop Capital reissued a “buy” rating and set a $87.00 target price on shares of Lamar Advertising Company in a research note on Friday, June 9th. Finally, BidaskClub raised shares of Lamar Advertising Company from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $74.60.
In other Lamar Advertising Company news, Director Stephen P. Mumblow sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total value of $1,412,200.00. Following the completion of the sale, the director now directly owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.66% of the stock is currently owned by corporate insiders.
Lamar Advertising Company Company 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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