Swiss National Bank increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,038 shares of the real estate investment trust’s stock after acquiring an additional 1,200 shares during the period. Swiss National Bank owned about 0.14% of Lamar Advertising worth $10,155,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of Lamar Advertising by 4.9% during the second quarter. Principal Financial Group Inc. now owns 358,308 shares of the real estate investment trust’s stock worth $26,360,000 after acquiring an additional 16,730 shares in the last quarter. Keybank National Association OH raised its holdings in shares of Lamar Advertising by 7.8% during the second quarter. Keybank National Association OH now owns 25,399 shares of the real estate investment trust’s stock worth $1,869,000 after acquiring an additional 1,839 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Lamar Advertising by 1.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 26,852 shares of the real estate investment trust’s stock worth $1,976,000 after acquiring an additional 491 shares in the last quarter. CFO4Life Group LLC raised its holdings in shares of Lamar Advertising by 7.7% during the second quarter. CFO4Life Group LLC now owns 3,400 shares of the real estate investment trust’s stock worth $250,000 after acquiring an additional 243 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Lamar Advertising by 6.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,254 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 85.09% of the company’s stock.
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Several analysts recently issued reports on LAMR shares. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Loop Capital reiterated a “buy” rating and set a $87.00 price objective on shares of Lamar Advertising in a report on Friday, June 9th. MKM Partners cut their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Lamar Advertising currently has an average rating of “Hold” and an average target price of $73.40.
Lamar Advertising Company (LAMR) opened at 63.14 on Wednesday. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 20.71 and a beta of 1.11. The firm’s 50-day moving average price is $66.85 and its 200 day moving average price is $71.36. Lamar Advertising Company has a 12-month low of $58.68 and a 12-month high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.37). The company had revenue of $397.10 million during the quarter, compared to analyst estimates of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. Lamar Advertising’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. On average, equities research analysts expect that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Thursday, September 14th. Lamar Advertising’s payout ratio is presently 109.21%.
Lamar Advertising Company Profile
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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