Global Assets Advisory LLC Buys New Stake in Lamar Advertising (NASDAQ:LAMR)

Global Assets Advisory LLC purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,118 shares of the real estate investment trust’s stock, valued at approximately $1,566,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC acquired a new stake in Lamar Advertising in the third quarter worth approximately $30,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Lamar Advertising in the 4th quarter worth $30,000. Quarry LP lifted its holdings in shares of Lamar Advertising by 70.4% in the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 133 shares during the period. Arlington Trust Co LLC bought a new position in Lamar Advertising during the fourth quarter valued at about $57,000. Finally, Sunbelt Securities Inc. grew its holdings in 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 acquiring an additional 503 shares during the period. 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 firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the sale, the director now directly owns 32,178 shares in the company, valued at approximately $3,862,968.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.98% of the stock is owned by insiders.

Lamar Advertising Price Performance

LAMR stock opened at $116.98 on Thursday. Lamar Advertising has a one year low of $77.21 and a one year high of $122.22. The firm has a 50-day moving average of $116.99 and a two-hundred day moving average of $112.30. The firm has a market capitalization of $11.96 billion, a PE ratio of 24.02 and a beta of 1.50. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39.

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

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a dividend of $1.30 per share. The ex-dividend date is Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. Lamar Advertising’s dividend payout ratio is 106.78%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st.

Lamar Advertising 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.