Neuburgh Advisers LLC lessened its stake in shares of Lamar Advertising Co (NASDAQ:LAMR) by 39.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,894 shares of the real estate investment trust’s stock after selling 17,170 shares during the period. Neuburgh Advisers LLC’s holdings in Lamar Advertising were worth $2,131,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LAMR. Parallel Advisors LLC boosted its holdings in shares of Lamar Advertising by 169.5% in the first quarter. Parallel Advisors LLC now owns 318 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Tompkins Financial Corp lifted its holdings in Lamar Advertising by 63.3% during the first quarter. Tompkins Financial Corp now owns 343 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 133 shares during the period. Whittier Trust Co. lifted its holdings in Lamar Advertising by 336.2% during the fourth quarter. Whittier Trust Co. now owns 458 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 353 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Lamar Advertising by 6,818.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,264,394 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in Lamar Advertising during the first quarter worth $34,000. 81.02% of the stock is owned by institutional investors.

Shares of LAMR opened at $79.80 on Friday. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 14.51 and a beta of 1.00. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.52 and a current ratio of 0.52. Lamar Advertising Co has a fifty-two week low of $64.51 and a fifty-two week high of $83.51.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.43). The company had revenue of $384.50 million for the quarter, compared to analyst estimates of $384.84 million. Lamar Advertising had a return on equity of 30.95% and a net margin of 20.68%. Lamar Advertising’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. On average, analysts expect that Lamar Advertising Co will post 5.62 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, June 13th. Lamar Advertising’s dividend payout ratio is currently 69.82%.

In other news, Director Thomas V. Reifenheiser sold 4,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total transaction of $324,200.00. Following the sale, the director now directly owns 38,708 shares of the company’s stock, valued at approximately $3,137,283.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Keith A. Istre sold 16,294 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $80.28, for a total transaction of $1,308,082.32. Following the sale, the chief financial officer now directly owns 118,991 shares in the company, valued at $9,552,597.48. The disclosure for this sale can be found here. 15.19% of the stock is currently owned by company insiders.

Several research firms recently issued reports on LAMR. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. BidaskClub raised Lamar Advertising from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. MKM Partners upped their target price on Lamar Advertising to $81.00 and gave the company a “neutral” rating in a research report on Thursday, February 21st. Finally, Zacks Investment Research downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $78.50.

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About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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