Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) by 4.4% during the third quarter, Holdings Channel reports. The firm owned 7,282 shares of the real estate investment trust’s stock after acquiring an additional 306 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Lamar Advertising were worth $601,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of LAMR. State of Michigan Retirement System lifted its position in shares of Lamar Advertising by 0.5% in the 2nd quarter. State of Michigan Retirement System now owns 22,138 shares of the real estate investment trust’s stock worth $1,947,000 after purchasing an additional 100 shares during the period. EP Wealth Advisors LLC raised its stake in Lamar Advertising by 2.8% in the first quarter. EP Wealth Advisors LLC now owns 4,129 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 112 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Lamar Advertising by 64.8% in the second quarter. Quadrant Capital Group LLC now owns 290 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 114 shares during the period. Sawtooth Solutions LLC boosted its position in Lamar Advertising by 4.1% during the 2nd quarter. Sawtooth Solutions LLC now owns 2,956 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 116 shares in the last quarter. Finally, Clearstead Advisors LLC grew its holdings in shares of Lamar Advertising by 5.2% during the 2nd quarter. Clearstead Advisors LLC now owns 2,412 shares of the real estate investment trust’s stock worth $212,000 after acquiring an additional 120 shares during the period. Institutional investors own 79.73% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on Lamar Advertising in a research note on Wednesday, October 12th. They issued a “buy” rating for the company.
Lamar Advertising Stock Up 0.2 %
Lamar Advertising Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were issued a dividend of $1.20 per share. The ex-dividend date was Friday, December 16th. This represents a $4.80 annualized dividend and a dividend yield of 4.98%. Lamar Advertising’s payout ratio is 98.36%.
Insider Transactions at Lamar Advertising
In related news, Director Thomas V. Reifenheiser sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $98.61, for a total transaction of $216,942.00. Following the completion of the transaction, the director now owns 39,671 shares of the company’s stock, valued at approximately $3,911,957.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 14.99% of the company’s stock.
Lamar Advertising Company Profile
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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