Uniplan Investment Counsel Inc. grew its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 18.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 296,068 shares of the real estate investment trust’s stock after buying an additional 46,828 shares during the period. Uniplan Investment Counsel Inc. owned 0.30% of Lamar Advertising worth $18,603,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of Lamar Advertising by 9.8% during the first quarter. Russell Investments Group Ltd. now owns 37,892 shares of the real estate investment trust’s stock valued at $2,833,000 after purchasing an additional 3,367 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Lamar Advertising by 4.1% during the first quarter. Great West Life Assurance Co. Can now owns 48,822 shares of the real estate investment trust’s stock valued at $3,648,000 after purchasing an additional 1,933 shares in the last quarter. US Bancorp DE boosted its position in shares of Lamar Advertising by 0.6% during the first quarter. US Bancorp DE now owns 31,261 shares of the real estate investment trust’s stock valued at $2,336,000 after purchasing an additional 174 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Lamar Advertising by 22.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,050 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 551 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Lamar Advertising by 0.4% during the first quarter. Swiss National Bank now owns 136,838 shares of the real estate investment trust’s stock valued at $10,227,000 after purchasing an additional 600 shares in the last quarter. 85.09% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Company (LAMR) traded up 1.01% during midday trading on Monday, hitting $63.94. The company had a trading volume of 157,758 shares. The company has a market capitalization of $6.27 billion, a P/E ratio of 20.97 and a beta of 1.11. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09. The stock has a 50 day moving average price of $66.95 and a 200 day moving average price of $71.44.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data 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 analysts’ expectations of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. Equities analysts forecast that Lamar Advertising Company will post $3.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.83 per share. The ex-dividend date is Thursday, September 14th. This represents a $3.32 annualized dividend and a yield of 5.24%. Lamar Advertising’s payout ratio is currently 109.21%.
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Several research firms recently weighed in on LAMR. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Loop Capital restated a “buy” rating and set a $87.00 price target on shares of Lamar Advertising in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $73.40.
About Lamar Advertising
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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