B. Riley Wealth Advisors Inc. Sells 558 Shares of Lamar Advertising (NASDAQ:LAMR)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 16.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,870 shares of the real estate investment trust’s stock after selling 558 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Lamar Advertising were worth $305,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Boston Partners grew its holdings 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 in the last quarter. JPMorgan Chase & Co. boosted its position in Lamar Advertising by 2.8% in the third quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust’s stock worth $120,336,000 after purchasing an additional 39,292 shares during the last quarter. Wellington Management Group LLP purchased a new position in Lamar Advertising in the fourth quarter worth $111,255,000. Charles Schwab Investment Management Inc. boosted its position in Lamar Advertising by 3.0% in the fourth 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 last quarter. Finally, Morningstar Investment Services LLC boosted 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 last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 0.7 %

LAMR stock opened at $116.98 on Thursday. The stock’s fifty day simple moving average is $116.99 and its two-hundred day simple moving average is $112.30. 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 1-year low of $77.21 and a 1-year high of $122.22. The stock has a market cap of $11.96 billion, a P/E ratio of 24.02 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $496.98 million. During the same period in the prior year, the company earned $1.41 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that Lamar Advertising will post 7.69 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $1.30 per share. The ex-dividend date is Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. Lamar Advertising’s dividend payout ratio is presently 106.78%.

Insider Activity

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 stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the transaction, the director now owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.98% of the company’s stock.

Wall Street Analyst Weigh In

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

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.