Lamar Advertising (NASDAQ:LAMR) Shares Sold by First PREMIER Bank

First PREMIER Bank cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,951 shares of the real estate investment trust’s stock after selling 210 shares during the period. First PREMIER Bank’s holdings in Lamar Advertising were worth $1,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LAMR. Wellington Management Group LLP acquired a new stake in Lamar Advertising in the fourth quarter worth approximately $111,255,000. Boston Partners lifted its position in Lamar Advertising by 32.7% in the fourth quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock worth $313,871,000 after purchasing an additional 727,207 shares during the period. Invesco Ltd. lifted its position in Lamar Advertising by 43.4% in the third quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock worth $141,352,000 after purchasing an additional 512,182 shares during the period. Morningstar Investment Services LLC lifted its position in Lamar Advertising by 97.6% in the fourth quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after purchasing an additional 451,429 shares during the period. Finally, Norges Bank acquired a new stake in shares of Lamar Advertising during the 4th quarter valued at $38,406,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. increased their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st.

Insider Transactions at Lamar Advertising

In other news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.05, for a total value of $2,040,850.00. Following the transaction, the director now directly owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.98% of the stock is currently owned by company insiders.

Lamar Advertising Stock Up 1.7 %

NASDAQ:LAMR traded up $2.01 during trading hours on Monday, hitting $119.32. 143,965 shares of the stock traded hands, compared to its average volume of 399,803. The firm has a 50 day moving average price of $116.60 and a 200 day moving average price of $112.08. 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 has a fifty-two week low of $77.21 and a fifty-two week high of $122.22. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 24.09 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (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 for the quarter, compared to analyst estimates of $496.98 million. During the same period last year, the firm earned $1.41 earnings per share. Lamar Advertising’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

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.