State of Alaska Department of Revenue Acquires 300 Shares of Lamar Advertising (NASDAQ:LAMR)

State of Alaska Department of Revenue boosted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,947 shares of the real estate investment trust’s stock after acquiring an additional 300 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lamar Advertising were worth $6,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Lamar Advertising during the 1st quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Lamar Advertising in the fourth quarter valued at $30,000. Sound Income Strategies LLC lifted its holdings in shares of Lamar Advertising by 85.8% in the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 145 shares during the last quarter. Quarry LP boosted its stake in shares of Lamar Advertising by 70.4% during the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 133 shares during the period. Finally, Arlington Trust Co LLC bought a new position in Lamar Advertising during the 4th quarter valued at about $57,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

LAMR stock opened at $118.71 on Thursday. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $122.22. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 24.38 and a beta of 1.52. The business’s fifty day simple moving average is $117.57 and its two-hundred day simple moving average is $112.71. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39.

Lamar Advertising (NASDAQ:LAMR) last posted 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). The company had revenue of $498.15 million during the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 EPS. Analysts predict that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

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. The ex-dividend date of this dividend was Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.38%. Lamar Advertising’s payout ratio is 106.78%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction on 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 of the company’s stock, valued at approximately $3,862,968.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 14.98% of the stock is owned by insiders.

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.