Healthcare of Ontario Pension Plan Trust Fund Sells 13,000 Shares of Lamar Advertising (NASDAQ:LAMR)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Lamar Advertising (NASDAQ:LAMR) by 92.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000 shares of the real estate investment trust’s stock after selling 13,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Lamar Advertising were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Lamar Advertising by 88.4% in the fourth quarter. SG Americas Securities LLC now owns 10,577 shares of the real estate investment trust’s stock valued at $1,124,000 after purchasing an additional 4,963 shares in the last quarter. Raymond James & Associates raised its stake in shares of Lamar Advertising by 11.0% in the fourth quarter. Raymond James & Associates now owns 334,343 shares of the real estate investment trust’s stock valued at $35,534,000 after purchasing an additional 33,036 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Lamar Advertising by 1.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,723 shares of the real estate investment trust’s stock valued at $5,922,000 after purchasing an additional 542 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Lamar Advertising by 77.6% in the fourth quarter. Pacer Advisors Inc. now owns 12,982 shares of the real estate investment trust’s stock valued at $1,380,000 after purchasing an additional 5,673 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Lamar Advertising in the fourth quarter valued at $208,000. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $120.47 on Friday. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $123.25. The firm has a market cap of $12.32 billion, a PE ratio of 24.74 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The business has a fifty day moving average of $118.02 and a 200-day moving average of $114.24.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same quarter last year, the business posted $1.41 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Monday, June 17th. Lamar Advertising’s dividend payout ratio is 106.78%.

Insider Activity at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total value of $2,040,850.00. Following the transaction, the director now owns 32,178 shares in the company, valued at $3,862,968.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LAMR. TD Cowen initiated coverage on Lamar Advertising in a research note on Tuesday, July 16th. They issued a “buy” rating and a $135.00 target price for the company. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $119.00.

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.