AE Wealth Management LLC increased its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 22.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,039 shares of the real estate investment trust’s stock after buying an additional 2,937 shares during the period. AE Wealth Management LLC’s holdings in Lamar Advertising were worth $1,096,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Point72 Asia Hong Kong Ltd boosted its position in Lamar Advertising by 566.4% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,606 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 1,365 shares during the period. McKinley Carter Wealth Services Inc. acquired a new stake in Lamar Advertising during the 1st quarter worth approximately $164,000. Quadrature Capital Ltd acquired a new stake in Lamar Advertising during the 1st quarter worth approximately $203,000. Anchor Capital Advisors LLC acquired a new stake in Lamar Advertising during the 2nd quarter worth approximately $242,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Lamar Advertising during the 2nd quarter worth approximately $269,000. Institutional investors and hedge funds own 83.48% of the company’s stock.
Several research analysts have issued reports on the stock. MKM Partners raised their price target on shares of Lamar Advertising to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Imperial Capital assumed coverage on shares of Lamar Advertising in a report on Thursday. They set an “outperform” rating and a $93.00 price target for the company. BidaskClub upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Citigroup raised their price target on shares of Lamar Advertising from $68.00 to $69.00 and gave the stock a “sell” rating in a report on Wednesday, August 15th. Finally, Zacks Investment Research lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $77.33.
Lamar Advertising stock opened at $77.96 on Friday. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48. Lamar Advertising Co has a 52-week low of $61.36 and a 52-week high of $79.17. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 15.47 and a beta of 1.13.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.06. Lamar Advertising had a net margin of 18.93% and a return on equity of 27.75%. The firm had revenue of $419.80 million during the quarter, compared to analyst estimates of $416.75 million. During the same quarter last year, the business earned $0.94 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. analysts forecast that Lamar Advertising Co will post 5.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.91 dividend. The ex-dividend date is Thursday, September 13th. This represents a $3.64 annualized dividend and a dividend yield of 4.67%. Lamar Advertising’s dividend payout ratio is currently 72.08%.
Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
Featured Story: Short Selling – Explanation For Shorting Stocks
Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising Co (NASDAQ:LAMR).
Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.