Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,289 Shares of Lamar Advertising (NASDAQ:LAMR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lamar Advertising (NASDAQ:LAMR) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,742 shares of the real estate investment trust’s stock after purchasing an additional 1,289 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lamar Advertising were worth $1,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System raised its holdings in Lamar Advertising by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock worth $2,236,000 after purchasing an additional 100 shares in the last quarter. Toronto Dominion Bank lifted its position in Lamar Advertising by 1.2% during the 3rd quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust’s stock valued at $801,000 after acquiring an additional 112 shares during the period. First Hawaiian Bank lifted its position in Lamar Advertising by 1.5% during the 4th quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust’s stock valued at $842,000 after acquiring an additional 116 shares during the period. Rosenberg Matthew Hamilton boosted its stake in Lamar Advertising by 4.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,841 shares of the real estate investment trust’s stock worth $302,000 after acquiring an additional 118 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in shares of Lamar Advertising by 3.5% during the third quarter. Raleigh Capital Management Inc. now owns 3,656 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LAMR. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Morgan Stanley increased their target price on Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $1,189,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 14.98% of the company’s stock.

Lamar Advertising Trading Down 0.5 %

NASDAQ:LAMR opened at $114.06 on Thursday. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $121.99. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 23.52 and a beta of 1.50. The company’s 50 day moving average price is $114.02 and its 200-day moving average price is $104.20. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.49). Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. The business had revenue of $555.91 million during the quarter, compared to analysts’ expectations of $549.84 million. During the same quarter in the prior year, the firm earned $1.91 EPS. On average, equities research analysts forecast that Lamar Advertising will post 7.54 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.56%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date was Thursday, March 14th. Lamar Advertising’s payout ratio is presently 107.22%.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.