Lamar Advertising (NASDAQ:LAMR) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 38.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 174,584 shares of the real estate investment trust’s stock after selling 111,030 shares during the period. Daiwa Securities Group Inc. owned about 0.17% of Lamar Advertising worth $20,868,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at $111,255,000. Morningstar Investment Services LLC raised its holdings in Lamar Advertising by 97.6% during the 4th quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after buying an additional 451,429 shares during the period. Paralel Advisors LLC acquired a new position in shares of Lamar Advertising in the fourth quarter worth about $3,950,000. Centersquare Investment Management LLC boosted its holdings in shares of Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after buying an additional 281,582 shares during the period. Finally, Boston Trust Walden Corp raised its holdings in shares of Lamar Advertising by 2.3% during the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock valued at $47,774,000 after acquiring an additional 8,857 shares during the period. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $122.74 on Tuesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. Lamar Advertising has a one year low of $77.21 and a one year high of $126.80. The business’s 50-day moving average price is $119.55 and its two-hundred day moving average price is $117.38. The company has a market capitalization of $12.56 billion, a P/E ratio of 25.20 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. Analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be paid a dividend of $1.40 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.56%. Lamar Advertising’s dividend payout ratio is 106.78%.

Analysts Set New Price Targets

LAMR has been the subject of several research analyst reports. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. TD Cowen lifted their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.25.

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.