Gateway Investment Advisers LLC Reduces Stake in Lamar Advertising (NASDAQ:LAMR)

Gateway Investment Advisers LLC reduced its position in Lamar Advertising (NASDAQ:LAMR) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,953 shares of the real estate investment trust’s stock after selling 771 shares during the period. Gateway Investment Advisers LLC’s holdings in Lamar Advertising were worth $2,043,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LAMR. Cohen & Steers Inc. increased its stake in Lamar Advertising by 453.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock valued at $323,900,000 after purchasing an additional 2,180,011 shares in the last quarter. FMR LLC grew its holdings in Lamar Advertising by 11.0% during the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock valued at $672,890,000 after buying an additional 545,606 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Lamar Advertising by 108.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust’s stock valued at $110,220,000 after buying an additional 470,805 shares during the last quarter. Norges Bank acquired a new stake in Lamar Advertising during the 4th quarter valued at $57,255,000. Finally, Northern Trust Corp grew its holdings in Lamar Advertising by 50.5% during 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. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

LAMR stock opened at $121.03 on Monday. Lamar Advertising has a 52-week low of $99.84 and a 52-week high of $139.88. The stock’s fifty day simple moving average is $114.21 and its 200-day simple moving average is $120.41. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 34.29 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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $505.43 million for the quarter, compared to analysts’ expectations of $509.72 million. Equities research analysts expect that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 5.12%. The ex-dividend date is Monday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is 150.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LAMR shares. Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and increased their target price for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley lowered their target price on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.