Fred Alger Management Inc. lowered its position in Lamar Advertising (NASDAQ:LAMR) by 24.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,290 shares of the real estate investment trust’s stock after selling 5,495 shares during the quarter. Fred Alger Management Inc.’s holdings in Lamar Advertising were worth $1,284,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its holdings in Lamar Advertising by 2.2% during the third quarter. Janus Henderson Group PLC now owns 8,306,313 shares of the real estate investment trust’s stock worth $569,232,000 after buying an additional 177,729 shares during the period. BlackRock Inc. lifted its holdings in Lamar Advertising by 0.3% during the fourth quarter. BlackRock Inc. now owns 7,690,836 shares of the real estate investment trust’s stock worth $570,968,000 after buying an additional 23,986 shares during the period. Cohen & Steers Inc. lifted its holdings in Lamar Advertising by 1.2% during the third quarter. Cohen & Steers Inc. now owns 2,955,566 shares of the real estate investment trust’s stock worth $202,545,000 after buying an additional 36,294 shares during the period. Victory Capital Management Inc. lifted its holdings in Lamar Advertising by 8.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,807,177 shares of the real estate investment trust’s stock worth $208,404,000 after buying an additional 211,029 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Lamar Advertising by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 2,199,900 shares of the real estate investment trust’s stock worth $150,760,000 after buying an additional 81,872 shares during the period. 84.45% of the stock is currently owned by institutional investors.
In other news, Director Stephen P. Mumblow sold 4,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the sale, the director now owns 11,031 shares in the company, valued at approximately $864,058.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 14.70% of the company’s stock.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.88 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.37). Lamar Advertising had a net margin of 20.61% and a return on equity of 29.41%. The business had revenue of $398.50 million for the quarter, compared to analysts’ expectations of $395.71 million. During the same quarter in the prior year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. equities analysts forecast that Lamar Advertising will post 5.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 19th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Friday, March 16th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.83. Lamar Advertising’s dividend payout ratio is currently 103.11%.
LAMR has been the subject of a number of analyst reports. BidaskClub upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Morgan Stanley upped their target price on Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. ValuEngine lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, MKM Partners upped their target price on Lamar Advertising from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, March 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $73.25.
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Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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