Scout Investments Inc. trimmed its position in Lamar Advertising Co (NASDAQ:LAMR) by 2.6% in the second quarter, HoldingsChannel.com reports. The firm owned 228,549 shares of the real estate investment trust’s stock after selling 6,178 shares during the quarter. Scout Investments Inc.’s holdings in Lamar Advertising were worth $18,446,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LAMR. First Allied Advisory Services Inc. increased its holdings in shares of Lamar Advertising by 4.3% in the first quarter. First Allied Advisory Services Inc. now owns 3,107 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 129 shares in the last quarter. Tompkins Financial Corp raised its stake in Lamar Advertising by 63.3% during the 1st quarter. Tompkins Financial Corp now owns 343 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 133 shares during the period. Cetera Investment Advisers raised its stake in Lamar Advertising by 4.4% during the 4th quarter. Cetera Investment Advisers now owns 3,359 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 141 shares during the period. WealthPLAN Partners LLC raised its stake in Lamar Advertising by 2.7% during the 1st quarter. WealthPLAN Partners LLC now owns 7,320 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 195 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Lamar Advertising by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the real estate investment trust’s stock valued at $1,807,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.
In other news, CFO Keith A. Istre sold 16,294 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $80.28, for a total value of $1,308,082.32. Following the transaction, the chief financial officer now directly owns 118,991 shares of the company’s stock, valued at $9,552,597.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas V. Reifenheiser sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total transaction of $324,200.00. Following the completion of the transaction, the director now directly owns 38,708 shares in the company, valued at $3,137,283.40. The disclosure for this sale can be found here. Corporate insiders own 15.19% of the company’s stock.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.43). Lamar Advertising had a return on equity of 30.95% and a net margin of 20.68%. The company had revenue of $384.50 million during the quarter, compared to analyst estimates of $384.84 million. During the same period last year, the company posted $0.15 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Lamar Advertising Co will post 5.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, June 13th. Lamar Advertising’s dividend payout ratio (DPR) is presently 69.82%.
LAMR has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Lamar Advertising currently has an average rating of “Hold” and an average target price of $78.50.
Lamar Advertising Company Profile
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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