Lamar Advertising (NASDAQ:LAMR) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lowered its holdings in Lamar Advertising (NASDAQ:LAMR) by 21.3% during the first quarter, HoldingsChannel reports. The fund owned 6,605 shares of the real estate investment trust’s stock after selling 1,785 shares during the period. Tributary Capital Management LLC’s holdings in Lamar Advertising were worth $789,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LAMR. Financial Synergies Wealth Advisors Inc. purchased a new position in Lamar Advertising during the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC purchased a new position in Lamar Advertising during the 3rd quarter worth approximately $30,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Lamar Advertising in the 4th quarter valued at approximately $30,000. Quarry LP grew its stake in shares of Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Lamar Advertising by 85.8% in the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Activity

In other news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction on Friday, May 10th. The stock was 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 document filed with the SEC, which is available through the SEC website. Company insiders own 14.98% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock traded up $0.53 during midday trading on Tuesday, hitting $118.51. 15,627 shares of the stock were exchanged, compared to its average volume of 404,967. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $122.22. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 24.23 and a beta of 1.52. The stock’s 50-day moving average price is $117.40 and its 200-day moving average price is $112.59. 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 released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share 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 company had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same period last year, the firm earned $1.41 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Research analysts predict that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, June 17th. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st.

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.