Summit X LLC bought a new stake in shares of Lamar Advertising (NASDAQ:LAMR – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,055 shares of the real estate investment trust’s stock, valued at approximately $204,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings in shares of Lamar Advertising by 79.5% during the fourth quarter. Harbour Investments Inc. now owns 429 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 190 shares during the period. CWM LLC raised its stake in Lamar Advertising by 80.3% during the 1st quarter. CWM LLC now owns 429 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 191 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Lamar Advertising in the first quarter valued at $47,000. Institutional & Family Asset Management LLC boosted its position in shares of Lamar Advertising by 42.6% in the first quarter. Institutional & Family Asset Management LLC now owns 646 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 193 shares during the period. Finally, Cambridge Trust Co. grew its holdings in shares of Lamar Advertising by 59.4% during the first quarter. Cambridge Trust Co. now owns 652 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 243 shares in the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.
Analyst Ratings Changes
LAMR has been the subject of several research analyst reports. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Morgan Stanley reduced their price target on shares of Lamar Advertising from $100.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, October 9th.
Lamar Advertising Stock Down 0.3 %
Shares of Lamar Advertising stock opened at $96.15 on Thursday. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 23.80 and a beta of 1.40. The stock has a 50-day simple moving average of $85.02 and a 200-day simple moving average of $91.22. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $111.49. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.55 and a quick ratio of 0.55.
Lamar Advertising Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date was Friday, September 15th. Lamar Advertising’s dividend payout ratio (DPR) is presently 123.76%.
About Lamar Advertising
Lamar Advertising Company operates as an outdoor advertising company in North America. It operates approximately 363,000 displays across the United States and Canada. It offers advertisers a range of billboard, interstate logo, transit, and airport advertising formats helping local businesses and national brands.
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