Moran Wealth Management LLC increased its stake in Lamar Advertising (NASDAQ:LAMR – Free Report) by 6.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,386 shares of the real estate investment trust’s stock after acquiring an additional 1,490 shares during the quarter. Moran Wealth Management LLC’s holdings in Lamar Advertising were worth $2,619,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Lamar Advertising by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,086,290 shares of the real estate investment trust’s stock worth $1,520,365,000 after buying an additional 43,704 shares during the period. FMR LLC boosted its position in shares of Lamar Advertising by 6.2% in the first quarter. FMR LLC now owns 6,178,960 shares of the real estate investment trust’s stock worth $617,216,000 after buying an additional 360,284 shares during the period. Victory Capital Management Inc. boosted its position in shares of Lamar Advertising by 1.6% in the second quarter. Victory Capital Management Inc. now owns 4,310,897 shares of the real estate investment trust’s stock worth $427,857,000 after buying an additional 66,391 shares during the period. State Street Corp boosted its position in shares of Lamar Advertising by 2.0% in the first quarter. State Street Corp now owns 2,498,064 shares of the real estate investment trust’s stock worth $249,532,000 after buying an additional 48,370 shares during the period. Finally, Boston Partners boosted its position in shares of Lamar Advertising by 0.6% in the second quarter. Boston Partners now owns 2,220,568 shares of the real estate investment trust’s stock worth $220,333,000 after buying an additional 14,197 shares during the period. Institutional investors and hedge funds own 79.80% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on LAMR shares. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Morgan Stanley reduced their price objective on 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 Price Performance
LAMR opened at $99.51 on Tuesday. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 24.63 and a beta of 1.40. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $111.49. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 2.67. The stock has a fifty day moving average price of $85.82 and a 200 day moving average price of $91.10.
Lamar Advertising Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were given a $1.25 dividend. The ex-dividend date was Friday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.02%. Lamar Advertising’s dividend payout ratio is currently 123.76%.
Lamar Advertising Company Profile
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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