JPMorgan Chase & Co. Has $101.54 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

JPMorgan Chase & Co. lifted its holdings in Lamar Advertising (NASDAQ:LAMRGet Rating) by 48.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,154,284 shares of the real estate investment trust’s stock after buying an additional 378,374 shares during the quarter. JPMorgan Chase & Co.’s holdings in Lamar Advertising were worth $101,542,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LAMR. Steward Partners Investment Advisory LLC boosted its position in Lamar Advertising by 2.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 7,737 shares of the real estate investment trust’s stock worth $899,000 after acquiring an additional 200 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lamar Advertising during the 1st quarter worth approximately $46,000. Arizona State Retirement System boosted its position in Lamar Advertising by 0.5% during the 1st quarter. Arizona State Retirement System now owns 23,469 shares of the real estate investment trust’s stock worth $2,727,000 after acquiring an additional 117 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Lamar Advertising by 4.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 134,148 shares of the real estate investment trust’s stock worth $15,585,000 after acquiring an additional 6,089 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Lamar Advertising by 52.5% during the 1st quarter. Benjamin Edwards Inc. now owns 540 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 186 shares during the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.

Lamar Advertising Trading Up 1.6 %

NASDAQ LAMR opened at $98.04 on Wednesday. The company has a market cap of $9.97 billion, a PE ratio of 20.09 and a beta of 1.37. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.38. Lamar Advertising has a 12 month low of $81.10 and a 12 month high of $124.32. The stock has a 50 day moving average of $89.46 and a 200-day moving average of $93.48.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Friday, September 16th. Lamar Advertising’s payout ratio is presently 98.36%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com assumed coverage on Lamar Advertising in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Morgan Stanley increased their price objective on Lamar Advertising from $103.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, August 4th.

Lamar Advertising Company Profile

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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.

See Also

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 (NASDAQ:LAMRGet Rating).

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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