Prospera Financial Services Inc purchased a new position in Lamar Advertising (NASDAQ:LAMR – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,335 shares of the real estate investment trust’s stock, valued at approximately $155,000.
A number of other institutional investors also recently made changes to their positions in LAMR. Victory Capital Management Inc. increased its stake in Lamar Advertising by 19.6% in the first quarter. Victory Capital Management Inc. now owns 3,064,685 shares of the real estate investment trust’s stock valued at $355,953,000 after purchasing an additional 502,135 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Lamar Advertising by 22.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 634,654 shares of the real estate investment trust’s stock valued at $76,985,000 after purchasing an additional 115,374 shares during the last quarter. Eudaimonia Advisors LLC acquired a new position in Lamar Advertising in the fourth quarter valued at $13,389,000. Daiwa Securities Group Inc. increased its stake in Lamar Advertising by 7.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,421,294 shares of the real estate investment trust’s stock valued at $172,403,000 after purchasing an additional 98,651 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Lamar Advertising by 332.1% in the fourth quarter. Mackenzie Financial Corp now owns 124,824 shares of the real estate investment trust’s stock valued at $15,141,000 after purchasing an additional 95,934 shares during the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on LAMR shares. Morgan Stanley upped their target price on Lamar Advertising from $103.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com lowered Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 2nd. Finally, Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $112.00 to $108.00 in a research note on Thursday, July 7th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.33.
Insider Transactions at Lamar Advertising
Lamar Advertising Price Performance
Shares of NASDAQ LAMR opened at $100.07 on Friday. Lamar Advertising has a 1-year low of $83.96 and a 1-year high of $124.32. The business has a 50-day moving average of $93.26 and a 200-day moving average of $103.73. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 23.00 and a beta of 1.38.
Lamar Advertising (NASDAQ:LAMR – Get Rating) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. During the same period in the prior year, the business earned $1.75 earnings per share. On average, equities analysts anticipate that Lamar Advertising will post 6.95 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 20th were given a $1.20 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, June 16th. This represents a $4.80 annualized dividend and a dividend yield of 4.80%. Lamar Advertising’s dividend payout ratio is presently 110.35%.
About Lamar Advertising
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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