Lamar Advertising (NASDAQ:LAMR) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 449,347 shares of the real estate investment trust’s stock after selling 18,129 shares during the period. Lamar Advertising accounts for approximately 1.5% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Anchor Capital Advisors LLC’s holdings in Lamar Advertising were worth $53,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Lamar Advertising by 179.4% during the 2nd quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock worth $2,226,000 after buying an additional 11,967 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in Lamar Advertising in the second quarter worth about $807,000. Arizona State Retirement System grew its stake in shares of Lamar Advertising by 1.9% during the second quarter. Arizona State Retirement System now owns 24,537 shares of the real estate investment trust’s stock worth $2,933,000 after acquiring an additional 469 shares during the last quarter. Impact Partnership Wealth LLC increased its holdings in shares of Lamar Advertising by 22.9% during the second quarter. Impact Partnership Wealth LLC now owns 3,175 shares of the real estate investment trust’s stock valued at $379,000 after acquiring an additional 592 shares in the last quarter. Finally, Markel Group Inc. increased its holdings in shares of Lamar Advertising by 22.1% during the second quarter. Markel Group Inc. now owns 94,000 shares of the real estate investment trust’s stock valued at $11,236,000 after acquiring an additional 17,000 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. TD Cowen upped 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. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.25.

Lamar Advertising Stock Performance

LAMR opened at $122.63 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $126.80. The firm has a 50 day moving average of $119.46 and a two-hundred day moving average of $117.25. The firm has a market capitalization of $12.54 billion, a PE ratio of 25.18 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data 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 business had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 EPS. On average, analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.57%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is presently 114.99%.

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.