Scout Investments Inc. lessened its holdings in Lamar Advertising Co (NASDAQ:LAMR) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,552 shares of the real estate investment trust’s stock after selling 2,997 shares during the quarter. Scout Investments Inc. owned approximately 0.22% of Lamar Advertising worth $18,479,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LAMR. Advisor Group Inc. boosted its stake in Lamar Advertising by 23.9% in the second quarter. Advisor Group Inc. now owns 12,181 shares of the real estate investment trust’s stock valued at $983,000 after acquiring an additional 2,348 shares in the last quarter. Semmax Financial Advisors Inc. boosted its stake in Lamar Advertising by 114.1% in the second quarter. Semmax Financial Advisors Inc. now owns 22,871 shares of the real estate investment trust’s stock valued at $1,846,000 after acquiring an additional 12,190 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Lamar Advertising by 34.6% in the second quarter. Cullen Frost Bankers Inc. now owns 673 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 173 shares in the last quarter. Alberta Investment Management Corp boosted its stake in Lamar Advertising by 77.8% in the second quarter. Alberta Investment Management Corp now owns 94,600 shares of the real estate investment trust’s stock valued at $7,635,000 after acquiring an additional 41,400 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Lamar Advertising by 6.4% in the second quarter. Victory Capital Management Inc. now owns 3,145,239 shares of the real estate investment trust’s stock valued at $253,853,000 after acquiring an additional 188,976 shares in the last quarter. 79.90% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Stephen P. Mumblow sold 3,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $79.81, for a total transaction of $279,335.00. Following the completion of the sale, the director now owns 5,580 shares in the company, valued at $445,339.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.19% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on LAMR. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub upgraded shares of Lamar Advertising from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Imperial Capital decreased their price objective on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Lamar Advertising has a consensus rating of “Hold” and a consensus target price of $80.75.
NASDAQ LAMR traded down $0.03 during trading hours on Wednesday, hitting $81.56. The company had a trading volume of 465 shares, compared to its average volume of 344,072. Lamar Advertising Co has a 1-year low of $64.51 and a 1-year high of $84.50. The company has a market cap of $8.19 billion, a PE ratio of 14.88 and a beta of 0.96. The business has a 50 day moving average of $78.56 and a 200-day moving average of $79.87. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.50 and a current ratio of 0.50.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.42). Lamar Advertising had a return on equity of 32.10% and a net margin of 21.39%. The business had revenue of $448.74 million for the quarter, compared to analyst estimates of $451.85 million. During the same quarter last year, the company posted $1.02 EPS. Lamar Advertising’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Lamar Advertising Co will post 5.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.96 per share. The ex-dividend date was Friday, September 13th. This represents a $3.84 annualized dividend and a dividend yield of 4.71%. Lamar Advertising’s dividend payout ratio (DPR) is 69.82%.
Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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.
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