Toronto Dominion Bank acquired a new stake in shares of Lamar Advertising Co (NASDAQ:LAMR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,175 shares of the real estate investment trust’s stock, valued at approximately $900,000.

Several other large investors also recently made changes to their positions in LAMR. First Interstate Bank acquired a new position in shares of Lamar Advertising during the second quarter worth $27,000. Arcadia Investment Management Corp MI acquired a new position in shares of Lamar Advertising during the second quarter worth $32,000. Penserra Capital Management LLC acquired a new position in shares of Lamar Advertising during the first quarter worth $39,000. Ossiam acquired a new position in shares of Lamar Advertising during the second quarter worth $49,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Lamar Advertising by 34.6% during the second quarter. Cullen Frost Bankers Inc. now owns 673 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 173 shares in the last quarter. Institutional investors own 79.90% of the company’s stock.

Shares of Lamar Advertising stock traded up $1.16 during trading on Thursday, hitting $80.18. The company’s stock had a trading volume of 2,796 shares, compared to its average volume of 287,975. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.50 and a quick ratio of 0.50. Lamar Advertising Co has a 52 week low of $64.51 and a 52 week high of $84.50. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 14.61 and a beta of 0.96. The stock has a 50-day moving average price of $77.41 and a two-hundred day moving average price of $79.57.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.42). Lamar Advertising had a return on equity of 32.10% and a net margin of 21.39%. The business had revenue of $448.74 million during the quarter, compared to the consensus estimate of $451.85 million. During the same period in the prior year, the firm earned $1.02 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Lamar Advertising Co will post 5.53 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.84 dividend on an annualized basis and a yield of 4.79%. Lamar Advertising’s dividend payout ratio (DPR) is currently 69.82%.

Several research analysts have recently issued reports on LAMR shares. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub cut shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. Finally, Imperial Capital reduced their price objective on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $80.75.

In other Lamar Advertising news, Director Stephen P. Mumblow sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $79.81, for a total transaction of $279,335.00. Following the sale, the director now owns 5,580 shares of the company’s stock, valued at $445,339.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.19% of the company’s stock.

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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