Lamar Advertising (NASDAQ:LAMR) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 0.6% in the first quarter, HoldingsChannel.com reports. The firm owned 50,947 shares of the real estate investment trust’s stock after acquiring an additional 300 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lamar Advertising were worth $6,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LAMR. Wellington Management Group LLP purchased a new position in Lamar Advertising during the fourth quarter worth about $111,255,000. Boston Partners lifted its holdings in shares of Lamar Advertising by 32.7% in the 4th quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock worth $313,871,000 after acquiring an additional 727,207 shares during the last quarter. Morningstar Investment Services LLC boosted its position in shares of Lamar Advertising by 97.6% during the 4th quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after purchasing an additional 451,429 shares during the period. Norges Bank acquired a new stake in Lamar Advertising in the 4th quarter valued at approximately $38,406,000. Finally, Centersquare Investment Management LLC raised its position in Lamar Advertising by 1,252.8% in the fourth quarter. Centersquare Investment Management LLC now owns 340,181 shares of the real estate investment trust’s stock valued at $36,154,000 after purchasing an additional 315,034 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Up 0.1 %

Shares of NASDAQ:LAMR opened at $118.71 on Thursday. The firm has a market capitalization of $12.14 billion, a PE ratio of 24.38 and a beta of 1.52. 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 current ratio of 0.38 and a quick ratio of 0.38. The firm’s 50-day moving average is $117.57 and its two-hundred day moving average is $112.71.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data 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). The business had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 EPS. Analysts predict that Lamar Advertising will post 7.69 EPS for the current year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, June 17th. Lamar Advertising’s payout ratio is currently 106.78%.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now owns 32,178 shares in the company, valued at approximately $3,862,968.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 14.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Company 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.