Park Avenue Securities LLC Grows Stock Position in Lamar Advertising (NASDAQ:LAMR)

Park Avenue Securities LLC grew its position in shares of Lamar Advertising (NASDAQ:LAMR) by 12.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,865 shares of the real estate investment trust’s stock after purchasing an additional 323 shares during the period. Park Avenue Securities LLC’s holdings in Lamar Advertising were worth $342,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LAMR. Stifel Financial Corp lifted its holdings in Lamar Advertising by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 34,109 shares of the real estate investment trust’s stock worth $2,847,000 after buying an additional 427 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Lamar Advertising by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 39,386 shares of the real estate investment trust’s stock valued at $3,288,000 after purchasing an additional 205 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Lamar Advertising by 137.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 84,266 shares of the real estate investment trust’s stock valued at $7,034,000 after purchasing an additional 48,820 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Lamar Advertising by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust’s stock valued at $801,000 after purchasing an additional 112 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in shares of Lamar Advertising by 71.3% during the 3rd quarter. Gotham Asset Management LLC now owns 30,992 shares of the real estate investment trust’s stock valued at $2,587,000 after buying an additional 12,903 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John E. Koerner III sold 17,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, the director now owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 14.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $119.53 on Monday. The business has a 50 day simple moving average of $117.31 and a 200-day simple moving average of $112.54. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $122.22. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 24.54 and a beta of 1.50. 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 (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.71). The business had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. Lamar Advertising’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS. As a group, equities research analysts expect that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a yield of 4.35%. Lamar Advertising’s payout ratio is currently 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.