BNP Paribas Arbitrage SA Buys 13,160 Shares of Lamar Advertising Company (LAMR)
BNP Paribas Arbitrage SA increased its stake in Lamar Advertising Company (NASDAQ:LAMR) by 71.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,490 shares of the real estate investment trust’s stock after buying an additional 13,160 shares during the period. BNP Paribas Arbitrage SA’s holdings in Lamar Advertising were worth $2,317,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Clinton Group Inc. bought a new position in Lamar Advertising during the first quarter valued at approximately $650,000. Capstone Asset Management Co. raised its position in shares of Lamar Advertising by 2.5% in the first quarter. Capstone Asset Management Co. now owns 9,269 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 230 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Lamar Advertising by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 74,944 shares of the real estate investment trust’s stock worth $5,039,000 after buying an additional 8,452 shares during the last quarter. Beacon Trust Co. raised its position in shares of Lamar Advertising by 5.1% in the first quarter. Beacon Trust Co. now owns 7,550 shares of the real estate investment trust’s stock worth $570,000 after buying an additional 367 shares during the last quarter. Finally, Steinberg Global Asset Management acquired a new position in shares of Lamar Advertising during the second quarter worth about $2,852,000. 85.10% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Company (NASDAQ:LAMR) opened at 66.41 on Thursday. Lamar Advertising Company has a 12 month low of $58.68 and a 12 month high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.37. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The firm had revenue of $397.10 million for the quarter, compared to the consensus estimate of $399.09 million. During the same period in the prior year, the business earned $0.84 EPS. Lamar Advertising’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.32 annualized dividend and a dividend yield of 5.00%. Lamar Advertising’s dividend payout ratio is currently 109.21%.
Several equities research analysts recently issued reports on LAMR shares. Zacks Investment Research lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. MKM Partners restated a “neutral” rating and set a $72.00 price objective (down from $73.00) on shares of Lamar Advertising in a research note on Friday, May 5th. ValuEngine downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Loop Capital reissued a “buy” rating and issued a $87.00 price target on shares of Lamar Advertising in a research note on Friday, June 9th. Finally, BidaskClub cut Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Lamar Advertising currently has an average rating of “Hold” and an average price target of $73.40.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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