Lamar Advertising (NASDAQ:LAMR) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. lessened its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,668 shares of the real estate investment trust’s stock after selling 735 shares during the period. Lamar Advertising makes up about 2.6% of Palouse Capital Management Inc.’s portfolio, making the stock its 7th biggest position. Palouse Capital Management Inc.’s holdings in Lamar Advertising were worth $3,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in shares of Lamar Advertising during the fourth quarter worth about $111,255,000. Morningstar Investment Services LLC lifted its stake in 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 valued at $98,347,000 after acquiring an additional 451,429 shares during the period. Paralel Advisors LLC acquired a new stake in Lamar Advertising during the 4th quarter valued at approximately $3,950,000. Centersquare Investment Management LLC boosted its holdings in shares of Lamar Advertising by 82.8% in the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after acquiring an additional 281,582 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in shares of Lamar Advertising by 2.3% in the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock worth $47,774,000 after acquiring an additional 8,857 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.8 %

LAMR stock opened at $130.95 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $132.21. The company’s 50-day simple moving average is $120.89 and its 200-day simple moving average is $118.22. The firm has a market cap of $13.39 billion, a P/E ratio of 26.89 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same period in the previous year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is 114.99%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LAMR. TD Cowen upped their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Lamar Advertising has an average rating of “Hold” and a consensus target price of $123.25.

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.