Norges Bank Buys Shares of 361,363 Lamar Advertising (NASDAQ:LAMR)

Norges Bank purchased a new position in Lamar Advertising (NASDAQ:LAMRFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 361,363 shares of the real estate investment trust’s stock, valued at approximately $38,406,000.

Several other institutional investors and hedge funds have also made changes to their positions in LAMR. Miller Howard Investments Inc. NY lifted its position in Lamar Advertising by 6.2% in the fourth quarter. Miller Howard Investments Inc. NY now owns 390,474 shares of the real estate investment trust’s stock worth $41,500,000 after purchasing an additional 22,778 shares during the period. Algert Global LLC lifted its holdings in shares of Lamar Advertising by 12.0% in the third quarter. Algert Global LLC now owns 90,105 shares of the real estate investment trust’s stock valued at $7,521,000 after buying an additional 9,640 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Lamar Advertising by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after buying an additional 30,567 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in Lamar Advertising by 125.1% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 17,420 shares of the real estate investment trust’s stock worth $1,851,000 after acquiring an additional 9,680 shares during the period. Finally, Signaturefd LLC raised its position in Lamar Advertising by 43.7% in the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LAMR has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, May 6th.

Read Our Latest Stock Analysis on Lamar Advertising

Lamar Advertising Price Performance

LAMR stock opened at $116.78 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $11.94 billion, a PE ratio of 23.98 and a beta of 1.49. Lamar Advertising has a one year low of $77.21 and a one year high of $122.22. The firm has a 50-day moving average of $116.42 and a two-hundred day moving average of $110.01.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business had revenue of $498.15 million during the quarter, compared to analysts’ expectations of $496.98 million. During the same period in the prior year, the company posted $1.41 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Monday, June 17th. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the sale, the director now directly owns 32,178 shares in the company, valued at approximately $3,862,968.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The disclosure for this sale can be found here. 14.98% of the stock is currently owned by insiders.

About Lamar Advertising

(Free Report)

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.

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

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