Arizona State Retirement System Increases Stake in Lamar Advertising (NASDAQ:LAMR)


Arizona State Retirement System boosted its stake in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,469 shares of the real estate investment trust’s stock after acquiring an additional 117 shares during the quarter. Arizona State Retirement System’s holdings in Lamar Advertising were worth $2,727,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Hilltop Holdings Inc. lifted its stake in Lamar Advertising by 15.0% during the 4th quarter. Hilltop Holdings Inc. now owns 2,945 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 385 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Lamar Advertising by 3,118.2% in the 4th quarter. Benjamin Edwards Inc. now owns 354 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 343 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Lamar Advertising by 50.8% in the 4th quarter. SG Americas Securities LLC now owns 13,192 shares of the real estate investment trust’s stock valued at $1,600,000 after acquiring an additional 4,445 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in shares of Lamar Advertising by 3.9% in the 1st quarter. Virginia Retirement Systems ET AL now owns 13,400 shares of the real estate investment trust’s stock valued at $1,557,000 after purchasing an additional 500 shares during the period. Finally, JustInvest LLC boosted its position in shares of Lamar Advertising by 96.7% in the 4th quarter. JustInvest LLC now owns 8,267 shares of the real estate investment trust’s stock valued at $1,003,000 after purchasing an additional 4,065 shares during the period. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anna Reilly sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $90.17, for a total value of $901,700.00. Following the completion of the sale, the director now directly owns 145,928 shares of the company’s stock, valued at approximately $13,158,327.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LAMR. StockNews.com cut Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 2nd. Morgan Stanley cut Lamar Advertising from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $135.00 to $103.00 in a research report on Friday, June 10th. Finally, Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and decreased their target price for the company from $112.00 to $108.00 in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Lamar Advertising Stock Up 1.3 %

Lamar Advertising stock opened at $101.06 on Friday. Lamar Advertising has a twelve month low of $83.96 and a twelve month high of $124.32. The stock has a 50 day moving average of $92.82 and a two-hundred day moving average of $104.05. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.43. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 23.23 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. The company had revenue of $451.40 million during the quarter, compared to analysts’ expectations of $427.21 million. During the same period last year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, research analysts expect that Lamar Advertising will post 6.95 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 20th were issued a $1.20 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Thursday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is currently 110.35%.

Lamar Advertising Company Profile

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Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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