Panagora Asset Management Inc. Increases Stake in Lamar Advertising Company (REIT) (NASDAQ:LAMR)

Panagora Asset Management Inc. grew its stake in Lamar Advertising Company (REIT) (NASDAQ:LAMR) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,628 shares of the real estate investment trust’s stock after purchasing an additional 177 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.08% of Lamar Advertising worth $8,732,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Arizona State Retirement System raised its position in shares of Lamar Advertising by 0.4% in the first quarter. Arizona State Retirement System now owns 25,159 shares of the real estate investment trust’s stock valued at $2,363,000 after buying an additional 106 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Lamar Advertising by 3.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,978 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 124 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Lamar Advertising by 60.2% in the 2nd quarter. Parallel Advisors LLC now owns 346 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 130 shares during the last quarter. Profund Advisors LLC boosted its position in shares of Lamar Advertising by 3.1% during the 1st quarter. Profund Advisors LLC now owns 6,484 shares of the real estate investment trust’s stock valued at $609,000 after acquiring an additional 195 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Lamar Advertising by 1.4% in the first quarter. CIBC Private Wealth Group LLC now owns 17,731 shares of the real estate investment trust’s stock valued at $1,665,000 after purchasing an additional 239 shares during the period. Institutional investors own 78.64% of the company’s stock.

LAMR has been the topic of several analyst reports. TheStreet raised shares of Lamar Advertising from a “c+” rating to a “b+” rating in a research report on Thursday, August 5th. Morgan Stanley upped their target price on shares of Lamar Advertising from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, June 11th.

Shares of NASDAQ:LAMR opened at $114.04 on Wednesday. Lamar Advertising Company has a fifty-two week low of $59.78 and a fifty-two week high of $116.54. The firm’s 50 day moving average price is $109.18 and its 200 day moving average price is $103.72. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.18. The stock has a market cap of $11.54 billion, a price-to-earnings ratio of 34.98 and a beta of 1.48.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Wednesday, August 4th. The real estate investment trust reported $1.18 EPS for the quarter, topping the consensus estimate of $0.86 by $0.32. Lamar Advertising had a return on equity of 27.71% and a net margin of 20.20%. During the same quarter last year, the business earned $0.31 EPS. On average, equities analysts anticipate that Lamar Advertising Company will post 6.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Monday, September 20th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.51%. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 17th. Lamar Advertising’s dividend payout ratio is 78.43%.

Lamar Advertising Profile

Lamar Advertising Co engages in advertising services. The firm rent advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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