Optimum Investment Advisors Lowers Holdings in Lamar Advertising Company (LAMR)
Optimum Investment Advisors reduced its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 17.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,565 shares of the real estate investment trust’s stock after selling 3,247 shares during the period. Optimum Investment Advisors’ holdings in Lamar Advertising were worth $1,145,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Clinton Group Inc. grew its position in Lamar Advertising by 254.9% during the 2nd quarter. Clinton Group Inc. now owns 30,875 shares of the real estate investment trust’s stock worth $2,271,000 after purchasing an additional 22,176 shares during the last quarter. HighTower Advisors LLC purchased a new position in Lamar Advertising during the 2nd quarter worth $915,000. QS Investors LLC grew its position in Lamar Advertising by 67.9% during the 2nd quarter. QS Investors LLC now owns 42,694 shares of the real estate investment trust’s stock worth $3,141,000 after purchasing an additional 17,273 shares during the last quarter. Aureus Asset Management LLC grew its position in Lamar Advertising by 1.6% during the 2nd quarter. Aureus Asset Management LLC now owns 6,005 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 94 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in Lamar Advertising during the 2nd quarter worth $1,125,000. 85.05% of the stock is currently owned by institutional investors.
Lamar Advertising Company (NASDAQ LAMR) traded up 0.79% during mid-day trading on Friday, hitting $68.53. 637,769 shares of the stock traded hands. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.37). The firm had revenue of $397.10 million for the quarter, compared to the consensus estimate of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. On average, equities research analysts forecast that Lamar Advertising Company will post $3.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.83 per share. The ex-dividend date was Thursday, September 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.84%. Lamar Advertising’s dividend payout ratio is currently 109.21%.
LAMR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. ValuEngine upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Morgan Stanley reduced their target price on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, September 18th. Loop Capital restated a “buy” rating and issued a $87.00 target price on shares of Lamar Advertising in a research note on Friday, June 9th. Finally, BidaskClub cut shares of 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, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.50.
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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