Lamar Advertising Company $LAMR Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,209,056 shares of the real estate investment trust’s stock after selling 101,069 shares during the quarter. Vanguard Group Inc. owned about 11.92% of Lamar Advertising worth $1,481,691,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. True Wealth Design LLC raised its holdings in shares of Lamar Advertising by 466.7% in the 2nd quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 168 shares in the last quarter. 1248 Management LLC acquired a new position in Lamar Advertising in the first quarter worth approximately $26,000. Ameritas Advisory Services LLC bought a new position in shares of Lamar Advertising in the second quarter valued at $28,000. HHM Wealth Advisors LLC increased its holdings in shares of Lamar Advertising by 26,900.0% in the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. Finally, Truvestments Capital LLC lifted its position in shares of Lamar Advertising by 79.5% during the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

LAMR has been the topic of a number of recent analyst reports. Citigroup boosted their target price on Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.75.

Lamar Advertising Trading Up 2.7%

Shares of NASDAQ:LAMR opened at $131.27 on Friday. The firm has a fifty day moving average of $122.58 and a two-hundred day moving average of $122.30. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $135.91. The firm has a market capitalization of $13.30 billion, a P/E ratio of 30.53 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. On average, equities analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s payout ratio is currently 145.54%.

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.