Lamar Advertising (NASDAQ:LAMR) Shares Sold by Blackston Financial Advisory Group LLC

Blackston Financial Advisory Group LLC reduced its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,469 shares of the real estate investment trust’s stock after selling 188 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in Lamar Advertising were worth $281,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in Lamar Advertising by 11.0% in the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock valued at $672,890,000 after purchasing an additional 545,606 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Lamar Advertising by 453.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock worth $323,900,000 after buying an additional 2,180,011 shares during the last quarter. Boston Partners boosted its holdings in shares of Lamar Advertising by 6.7% in the 4th quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock valued at $295,122,000 after buying an additional 152,575 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lamar Advertising by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock valued at $257,414,000 after buying an additional 59,039 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Lamar Advertising by 50.5% in the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust’s stock valued at $155,632,000 after buying an additional 428,744 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.1%

NASDAQ LAMR opened at $119.43 on Tuesday. The firm’s fifty day moving average is $115.89 and its two-hundred day moving average is $119.90. Lamar Advertising has a one year low of $99.84 and a one year high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $12.23 billion, a PE ratio of 33.83 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. Analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.19%. The ex-dividend date is Monday, June 16th. Lamar Advertising’s dividend payout ratio is presently 150.49%.

Analysts Set New Price Targets

Several research firms have issued reports on LAMR. Citigroup upgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating and upped their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley decreased their target price on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.00.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.