Zions Bancorporation National Association UT Reduces Position in Lamar Advertising Company $LAMR

Zions Bancorporation National Association UT trimmed its position in Lamar Advertising Company (NASDAQ:LAMR) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,293 shares of the real estate investment trust’s stock after selling 670 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Lamar Advertising were worth $2,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Lamar Advertising by 466.7% in the 2nd quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 168 shares during the last quarter. 1248 Management LLC purchased a new stake in shares of Lamar Advertising during the first quarter worth about $26,000. Ameritas Advisory Services LLC bought a new stake in shares of Lamar Advertising in the second quarter worth about $28,000. HHM Wealth Advisors LLC grew its stake in shares of Lamar Advertising by 26,900.0% in the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Finally, Truvestments Capital LLC increased its holdings in Lamar Advertising by 79.5% during the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 140 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $126.35 on Monday. The firm has a market cap of $12.79 billion, a P/E ratio of 29.38 and a beta of 1.36. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $135.91. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The company has a 50 day moving average of $122.45 and a 200 day moving average of $121.40.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The business had revenue of $585.54 million during the quarter, compared to analyst estimates of $584.00 million. As a group, research analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. Lamar Advertising’s payout ratio is 145.54%.

Insider Transactions at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LAMR. Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. JPMorgan Chase & Co. dropped their price target on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Finally, Weiss Ratings cut shares of Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $134.20.

Lamar Advertising 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.