Fairview Capital Investment Management LLC Sells 38,596 Shares of Lamar Advertising Company (LAMR)
Fairview Capital Investment Management LLC trimmed its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 22.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,016 shares of the real estate investment trust’s stock after selling 38,596 shares during the quarter. Fairview Capital Investment Management LLC’s holdings in Lamar Advertising were worth $10,007,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Westpac Banking Corp bought a new position in Lamar Advertising in the second quarter worth approximately $176,000. Penserra Capital Management LLC lifted its holdings in Lamar Advertising by 9.5% during the second quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 214 shares during the period. Verity Asset Management Inc. purchased a new stake in Lamar Advertising during the second quarter worth $204,000. Two Sigma Securities LLC purchased a new stake in Lamar Advertising during the first quarter worth $220,000. Finally, SPC Financial Inc. purchased a new stake in Lamar Advertising during the second quarter worth $221,000. 85.05% of the stock is currently owned by institutional investors.
Lamar Advertising Company (LAMR) traded down 1.62% during trading on Monday, reaching $67.42. 218,426 shares of the company’s stock traded hands. Lamar Advertising Company has a 12-month low of $58.68 and a 12-month high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last released 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 Thomson Reuters’ consensus estimate of $1.31 by ($0.37). The business had revenue of $397.10 million for the quarter, compared to analyst estimates of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend was Thursday, September 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 109.21%.
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LAMR has been the topic of several recent research reports. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Loop Capital reissued a “buy” rating and issued a $87.00 price target on shares of Lamar Advertising in a research report on Friday, June 9th. Morgan Stanley reduced their price target on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $72.50.
Lamar Advertising 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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