Lamar Advertising (NASDAQ:LAMR) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,640,281 shares of the real estate investment trust’s stock after selling 68,167 shares during the quarter. Vanguard Group Inc. owned about 12.38% of Lamar Advertising worth $1,343,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Lamar Advertising during the 4th quarter worth $30,000. Quarry LP grew its stake in shares of Lamar Advertising by 70.4% during the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 133 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Lamar Advertising during the 3rd quarter worth $30,000. Arlington Trust Co LLC acquired a new stake in Lamar Advertising in the 4th quarter valued at about $57,000. Finally, Sunbelt Securities Inc. grew its stake in Lamar Advertising by 249.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 503 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $120.05, for a total value of $2,040,850.00. Following the completion of the sale, the director now owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.98% of the stock is owned by corporate insiders.

Lamar Advertising Stock Up 0.3 %

LAMR opened at $114.69 on Thursday. The firm has a 50 day moving average price of $116.46 and a 200 day moving average price of $111.86. The company has a market cap of $11.73 billion, a PE ratio of 23.55 and a beta of 1.50. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $122.22. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. During the same period last year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts expect that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.53%. The ex-dividend date is Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

Analysts Set New Price Targets

A number of brokerages recently commented on LAMR. Morgan Stanley increased their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th.

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.