Lamar Advertising Company $LAMR Shares Purchased by Private Management Group Inc.

Private Management Group Inc. boosted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 1.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 176,536 shares of the real estate investment trust’s stock after acquiring an additional 2,577 shares during the period. Private Management Group Inc.’s holdings in Lamar Advertising were worth $21,424,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blair William & Co. IL grew its stake in shares of Lamar Advertising by 1.5% during the second quarter. Blair William & Co. IL now owns 5,358 shares of the real estate investment trust’s stock worth $650,000 after purchasing an additional 81 shares in the last quarter. JB Capital LLC lifted its holdings in Lamar Advertising by 0.3% during the 2nd quarter. JB Capital LLC now owns 29,916 shares of the real estate investment trust’s stock worth $3,631,000 after buying an additional 82 shares during the last quarter. SWS Partners boosted its position in shares of Lamar Advertising by 0.6% during the 1st quarter. SWS Partners now owns 15,347 shares of the real estate investment trust’s stock worth $1,746,000 after acquiring an additional 85 shares in the last quarter. Signaturefd LLC boosted its position in shares of Lamar Advertising by 7.2% during the 2nd quarter. Signaturefd LLC now owns 1,457 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 98 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Lamar Advertising by 0.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the real estate investment trust’s stock valued at $2,998,000 after acquiring an additional 100 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $131.27 on Friday. The stock has a market cap of $13.30 billion, a P/E ratio of 30.53 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 stock has a 50 day moving average of $122.58 and a two-hundred day moving average of $122.26. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45.

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

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is presently 145.54%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LAMR shares. JPMorgan Chase & Co. boosted their target price on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Morgan Stanley raised their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Citigroup increased their target price on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $131.75.

About Lamar Advertising

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.