Brookstone Capital Management Makes New Investment in Lamar Advertising (NASDAQ:LAMR)

Brookstone Capital Management acquired a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,509 shares of the real estate investment trust’s stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its position in Lamar Advertising by 85.8% during the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 145 shares in the last quarter. Dynamic Advisor Solutions LLC grew its position in Lamar Advertising by 6.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 42,971 shares of the real estate investment trust’s stock worth $5,131,000 after purchasing an additional 2,513 shares in the last quarter. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Lamar Advertising during the 1st quarter valued at $25,000. Global Assets Advisory LLC purchased a new position in shares of Lamar Advertising during the 1st quarter valued at $1,566,000. Finally, Park Avenue Securities LLC grew its holdings in shares of Lamar Advertising by 12.7% during the 1st quarter. Park Avenue Securities LLC now owns 2,865 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 323 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Lamar Advertising Trading Up 0.5 %

Lamar Advertising stock opened at $118.57 on Wednesday. The company’s fifty day simple moving average is $117.48 and its 200-day simple moving average is $112.67. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $122.22. The stock has a market cap of $12.12 billion, a P/E ratio of 24.35 and a beta of 1.52.

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

Lamar Advertising Dividend Announcement

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

Insider Activity at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction 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 approximately $3,862,968.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 14.98% of the stock is owned by company insiders.

About Lamar Advertising

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.