Lamar Advertising Company (LAMR) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. grew its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,742,042 shares of the real estate investment trust’s stock after buying an additional 139,256 shares during the period. Vanguard Group Inc. owned 6.89% of Lamar Advertising worth $496,013,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of LAMR. BlackRock Inc. raised its holdings in shares of Lamar Advertising by 16,176.3% during the first quarter. BlackRock Inc. now owns 7,078,578 shares of the real estate investment trust’s stock valued at $529,055,000 after acquiring an additional 7,035,088 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Lamar Advertising by 81.2% in the second quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock worth $176,805,000 after acquiring an additional 1,077,170 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Lamar Advertising in the second quarter worth $33,402,000. Miller Howard Investments Inc. NY lifted its stake in Lamar Advertising by 29.1% in the second quarter. Miller Howard Investments Inc. NY now owns 1,110,749 shares of the real estate investment trust’s stock worth $81,718,000 after acquiring an additional 250,608 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Lamar Advertising by 17.4% in the second quarter. Schroder Investment Management Group now owns 904,969 shares of the real estate investment trust’s stock worth $66,153,000 after acquiring an additional 133,948 shares during the period. 85.05% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Lamar Advertising Company (NASDAQ LAMR) opened at 67.46 on Wednesday. The company has a 50-day moving average price of $65.24 and a 200 day moving average price of $70.13. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.37). The company had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. On average, equities analysts predict that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.83 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $3.32 annualized dividend and a yield of 4.92%. Lamar Advertising’s dividend payout ratio (DPR) is 109.21%.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Morgan Stanley dropped their target price on shares of 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. Loop Capital reaffirmed a “buy” rating and issued a $87.00 target price on shares of Lamar Advertising in a research report on Friday, June 9th. Finally, BidaskClub cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $72.50.
Lamar Advertising 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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