Bokf Na cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR – Free Report) by 3.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,669 shares of the real estate investment trust’s stock after selling 1,198 shares during the period. Bokf Na’s holdings in Lamar Advertising were worth $4,024,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of LAMR. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Lamar Advertising in the first quarter valued at approximately $25,000. Whittier Trust Co. increased its holdings in Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Lamar Advertising during the first quarter worth $27,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Lamar Advertising during the fourth quarter valued at $30,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising in the second quarter valued at about $30,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on LAMR shares. TD Cowen raised their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Lamar Advertising has an average rating of “Hold” and a consensus price target of $123.25.
Lamar Advertising Trading Up 1.5 %
Shares of Lamar Advertising stock opened at $129.44 on Friday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $120.15 and its 200-day simple moving average is $117.73. The stock has a market cap of $13.24 billion, a P/E ratio of 26.58 and a beta of 1.52. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $129.51.
Lamar Advertising (NASDAQ:LAMR – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same period last year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be paid a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.33%. Lamar Advertising’s dividend payout ratio is 106.78%.
Lamar Advertising 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.
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