Advisors Asset Management Inc. decreased its position in Lamar Advertising Co (NASDAQ:LAMR) by 98.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 752 shares of the real estate investment trust’s stock after selling 38,462 shares during the quarter. Advisors Asset Management Inc.’s holdings in Lamar Advertising were worth $2,934,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its holdings in Lamar Advertising by 13.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,063 shares of the real estate investment trust’s stock valued at $414,000 after acquiring an additional 738 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Lamar Advertising by 7.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,783 shares of the real estate investment trust’s stock valued at $737,000 after acquiring an additional 769 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Lamar Advertising by 3.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 32,797 shares of the real estate investment trust’s stock valued at $2,240,000 after acquiring an additional 943 shares in the last quarter. Amalgamated Bank raised its holdings in Lamar Advertising by 5.7% in the first quarter. Amalgamated Bank now owns 18,361 shares of the real estate investment trust’s stock valued at $1,169,000 after acquiring an additional 998 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in Lamar Advertising by 8.9% in the first quarter. Profund Advisors LLC now owns 12,860 shares of the real estate investment trust’s stock valued at $819,000 after acquiring an additional 1,055 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

LAMR stock opened at $76.18 on Thursday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.48 and a current ratio of 1.48. Lamar Advertising Co has a twelve month low of $61.36 and a twelve month high of $79.40. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 15.09 and a beta of 1.13.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Lamar Advertising had a net margin of 18.93% and a return on equity of 27.75%. The company had revenue of $419.80 million for the quarter, compared to analysts’ expectations of $416.75 million. During the same quarter last year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. analysts predict that Lamar Advertising Co will post 5.09 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.64 dividend on an annualized basis and a yield of 4.78%. Lamar Advertising’s payout ratio is currently 72.08%.

Several brokerages recently weighed in on LAMR. ValuEngine cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. BidaskClub cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Zacks Investment Research raised shares of Lamar Advertising from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Monday, June 18th. Imperial Capital began coverage on shares of Lamar Advertising in a report on Thursday, September 13th. They set an “outperform” rating and a $93.00 price objective on the stock. Finally, TheStreet raised shares of Lamar Advertising from a “c+” rating to a “b-” rating in a report on Wednesday, June 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $77.33.

Lamar Advertising Company Profile

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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

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