Krilogy Financial LLC decreased its holdings in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,997 shares of the real estate investment trust’s stock after selling 188 shares during the period. Krilogy Financial LLC’s holdings in Lamar Advertising were worth $440,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Leith Wheeler Investment Counsel Ltd. boosted its position in Lamar Advertising by 0.6% during the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 79,170 shares of the real estate investment trust’s stock worth $8,966,000 after purchasing an additional 450 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Lamar Advertising by 24.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,976 shares of the real estate investment trust’s stock valued at $614,000 after purchasing an additional 1,369 shares in the last quarter. Hamlin Capital Management LLC raised its stake in Lamar Advertising by 7.9% during the second quarter. Hamlin Capital Management LLC now owns 1,074,621 shares of the real estate investment trust’s stock worth $94,534,000 after acquiring an additional 79,079 shares in the last quarter. Diversified Trust Co increased its position in Lamar Advertising by 58.0% in the second quarter. Diversified Trust Co now owns 8,039 shares of the real estate investment trust’s stock worth $707,000 after purchasing an additional 2,952 shares during the period. Finally, Exane Derivatives acquired a new position in shares of Lamar Advertising during the 2nd quarter worth about $142,000. Institutional investors and hedge funds own 80.15% of the company’s stock.
Insider Activity at Lamar Advertising
In related news, CFO Jay Lecoryelle Johnson sold 4,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $106.35, for a total transaction of $425,400.00. Following the sale, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $2,765,100. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.99% of the stock is currently owned by corporate insiders.
Lamar Advertising Price Performance
Lamar Advertising (NASDAQ:LAMR – Get Rating) last announced its earnings results on Wednesday, August 3rd. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. Lamar Advertising had a return on equity of 37.09% and a net margin of 23.52%. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, equities research analysts anticipate that Lamar Advertising will post 6.91 earnings per share for the current year.
Lamar Advertising Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, September 16th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 5.64%. Lamar Advertising’s payout ratio is 106.90%.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $112.00 to $108.00 in a research report on Thursday, July 7th. StockNews.com cut Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 2nd. Finally, Morgan Stanley increased their price target on Lamar Advertising from $103.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th.
Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 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.
- Get a free copy of the StockNews.com research report on Lamar Advertising (LAMR)
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