Diversified Trust Co increased its stake in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,087 shares of the real estate investment trust’s stock after purchasing an additional 900 shares during the quarter. Diversified Trust Co’s holdings in Lamar Advertising were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. BOKF NA increased its holdings in Lamar Advertising by 2.4% during the 4th quarter. BOKF NA now owns 72,501 shares of the real estate investment trust’s stock worth $8,795,000 after purchasing an additional 1,672 shares during the last quarter. Marks Group Wealth Management Inc boosted its position in Lamar Advertising by 28.2% during the 4th quarter. Marks Group Wealth Management Inc now owns 9,492 shares of the real estate investment trust’s stock worth $1,150,000 after acquiring an additional 2,090 shares during the period. Rise Advisors LLC acquired a new position in Lamar Advertising during the 4th quarter worth $56,000. JustInvest LLC boosted its position in Lamar Advertising by 96.7% during the 4th quarter. JustInvest LLC now owns 8,267 shares of the real estate investment trust’s stock worth $1,003,000 after acquiring an additional 4,065 shares during the period. Finally, Waratah Capital Advisors Ltd. boosted its position in Lamar Advertising by 14.5% during the 4th quarter. Waratah Capital Advisors Ltd. now owns 725,589 shares of the real estate investment trust’s stock worth $88,014,000 after acquiring an additional 92,080 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.
Several brokerages have recently weighed in on LAMR. Wolfe Research assumed coverage on Lamar Advertising in a report on Tuesday, March 29th. They issued a “market perform” rating and a $131.00 price objective for the company. Morgan Stanley lowered Lamar Advertising from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $135.00 to $103.00 in a research report on Friday, June 10th. Finally, StockNews.com downgraded Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 2nd.
Lamar Advertising (NASDAQ:LAMR – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $451.40 million during the quarter, compared to analysts’ expectations of $427.21 million. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. Sell-side analysts predict that Lamar Advertising will post 6.95 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Monday, June 20th will be given a $1.20 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a dividend yield of 5.36%. The ex-dividend date is Thursday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is currently 110.35%.
Lamar Advertising Profile (Get Rating)
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 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.
- Get a free copy of the StockNews.com research report on Lamar Advertising (LAMR)
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