BB&T Corp decreased its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,799 shares of the real estate investment trust’s stock after selling 938 shares during the period. BB&T Corp’s holdings in Lamar Advertising were worth $2,780,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of Lamar Advertising during the fourth quarter valued at about $3,430,000. AQR Capital Management LLC increased its stake in shares of Lamar Advertising by 5.0% in the fourth quarter. AQR Capital Management LLC now owns 26,462 shares of the real estate investment trust’s stock valued at $1,779,000 after buying an additional 1,252 shares during the period. Teachers Advisors LLC increased its stake in shares of Lamar Advertising by 12.7% in the fourth quarter. Teachers Advisors LLC now owns 74,944 shares of the real estate investment trust’s stock valued at $5,039,000 after buying an additional 8,452 shares during the period. Beacon Financial Group increased its stake in shares of Lamar Advertising by 0.7% in the first quarter. Beacon Financial Group now owns 113,971 shares of the real estate investment trust’s stock valued at $8,546,000 after buying an additional 841 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of Lamar Advertising during the first quarter valued at about $1,236,000. 85.56% of the stock is currently owned by institutional investors.
Shares of Lamar Advertising Company (LAMR) opened at 72.35 on Tuesday. Lamar Advertising Company has a 52 week low of $58.68 and a 52 week high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by $0.49. The business had revenue of $346.40 million during the quarter, compared to analyst estimates of $347.06 million. Lamar Advertising had a return on equity of 27.42% and a net margin of 19.18%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. Equities analysts forecast that Lamar Advertising Company will post $3.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a $0.83 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $3.32 dividend on an annualized basis and a yield of 4.56%. Lamar Advertising’s payout ratio is 112.93%.
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LAMR has been the topic of several recent analyst reports. MKM Partners reissued a “neutral” rating and set a $72.00 target price (down previously from $73.00) on shares of Lamar Advertising in a research note on Friday, May 5th. Zacks Investment Research downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. ValuEngine downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Loop Capital reissued a “buy” rating and set a $87.00 target price on shares of Lamar Advertising in a research note on Friday, June 9th. Finally, BidaskClub raised Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $77.25.
In related news, Director Stephen P. Mumblow sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $70.61, for a total value of $1,412,200.00. Following the completion of the transaction, the director now owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.66% of the company’s stock.
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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