Quarry LP Has $34,000 Stake in Lamar Advertising (NASDAQ:LAMR)

Quarry LP raised its position in shares of Lamar Advertising (NASDAQ:LAMR) by 70.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 322 shares of the real estate investment trust’s stock after purchasing an additional 133 shares during the quarter. Quarry LP’s holdings in Lamar Advertising were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LAMR. Cary Street Partners Investment Advisory LLC acquired a new position in Lamar Advertising during the third quarter valued at $30,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Lamar Advertising in the 4th quarter valued at about $30,000. Arlington Trust Co LLC purchased a new stake in shares of Lamar Advertising in the fourth quarter worth approximately $57,000. Sunbelt Securities Inc. boosted its holdings in shares of Lamar Advertising by 249.0% during the third quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 503 shares during the period. Finally, Signaturefd LLC grew its position in Lamar Advertising by 103.7% during the fourth quarter. Signaturefd LLC now owns 1,004 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, the director now owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LAMR shares. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Morgan Stanley lifted their price target on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday, February 26th.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $114.35 on Tuesday. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $122.22. The stock’s 50-day moving average is $116.43 and its two-hundred day moving average is $111.76. The firm has a market cap of $11.69 billion, a P/E ratio of 23.48 and a beta of 1.50. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data 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). The company had revenue of $498.15 million during the quarter, compared to the consensus estimate of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. On average, analysts anticipate that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Monday, June 17th. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Lamar Advertising Company Profile

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.