Thompson Siegel & Walmsley LLC trimmed its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 40.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,022 shares of the real estate investment trust’s stock after selling 7,500 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Lamar Advertising were worth $811,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Penserra Capital Management LLC acquired a new stake in Lamar Advertising in the first quarter worth approximately $169,000. Westpac Banking Corp acquired a new stake in Lamar Advertising in the second quarter worth approximately $176,000. HL Financial Services LLC acquired a new stake in Lamar Advertising in the first quarter worth approximately $217,000. Two Sigma Securities LLC acquired a new stake in Lamar Advertising in the first quarter worth approximately $220,000. Finally, SPC Financial Inc. acquired a new stake in Lamar Advertising in the second quarter worth approximately $221,000. 85.05% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on LAMR shares. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Loop Capital reiterated a “buy” rating and set a $87.00 price objective on shares of Lamar Advertising in a research report on Friday, June 9th. Morgan Stanley cut their price objective on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $72.50.
Lamar Advertising Company (LAMR) opened at 64.78 on Friday. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.37). The company had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. 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 earned $0.84 EPS. Equities research analysts predict that Lamar Advertising Company will post $3.11 EPS for the current year.
The business also recently disclosed 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 annualized dividend and a yield of 5.13%. The ex-dividend date is Thursday, September 14th. Lamar Advertising’s payout ratio is 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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