Lamar Advertising (NASDAQ:LAMR) Shares Bought by Diversified Trust Co

Diversified Trust Co lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 190.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,155 shares of the real estate investment trust’s stock after buying an additional 3,383 shares during the period. Diversified Trust Co’s holdings in Lamar Advertising were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after purchasing an additional 68,484 shares during the last quarter. Boston Partners boosted its stake in Lamar Advertising by 32.7% during the fourth quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock worth $313,871,000 after buying an additional 727,207 shares during the period. DAVENPORT & Co LLC raised its stake in shares of Lamar Advertising by 0.4% in the 1st quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock valued at $210,889,000 after acquiring an additional 7,794 shares during the period. Wellington Management Group LLP acquired a new position in shares of Lamar Advertising in the 4th quarter worth approximately $111,255,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Lamar Advertising by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock worth $110,534,000 after purchasing an additional 30,567 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LAMR. TD Cowen lifted their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.25.

Lamar Advertising Stock Performance

LAMR traded down $1.16 during trading on Wednesday, reaching $116.64. The company’s stock had a trading volume of 43,244 shares, compared to its average volume of 411,455. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 24.19 and a beta of 1.52. The company’s fifty day moving average price is $117.53 and its 200-day moving average price is $115.30. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $123.25. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. On average, equities analysts forecast 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 was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.46%. The ex-dividend date was Monday, June 17th. Lamar Advertising’s payout ratio is currently 106.78%.

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.