Lamar Advertising (LAMR) Increases Dividend to $0.91 Per Share
Lamar Advertising (NASDAQ:LAMR) declared a quarterly dividend on Thursday, February 22nd, RTT News reports. Investors of record on Monday, March 19th will be given a dividend of 0.91 per share by the real estate investment trust on Thursday, March 29th. This represents a $3.64 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Friday, March 16th. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.83.
Lamar Advertising has decreased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Lamar Advertising has a dividend payout ratio of 68.6% indicating that its dividend is sufficiently covered by earnings.
Lamar Advertising (NASDAQ:LAMR) opened at $67.28 on Friday. Lamar Advertising has a twelve month low of $62.45 and a twelve month high of $79.17. The company has a market capitalization of $6,610.80, a P/E ratio of 13.32, a P/E/G ratio of 4.36 and a beta of 1.06. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.29 and a quick ratio of 1.29.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the transaction, the director now directly owns 11,031 shares in the company, valued at $864,058.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.70% of the stock is owned by corporate insiders.
A number of research analysts recently commented on LAMR shares. BidaskClub upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Morgan Stanley upped their price objective on Lamar Advertising from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, MKM Partners upped their price target on Lamar Advertising from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $73.25.
WARNING: “Lamar Advertising (LAMR) Increases Dividend to $0.91 Per Share” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2018/03/11/lamar-advertising-lamr-increases-dividend-to-0-91-per-share.html.
About Lamar Advertising
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.
Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.