Zions Bancorporation National Association UT Reduces Stake in Lamar Advertising Company $LAMR

Zions Bancorporation National Association UT lowered its position in Lamar Advertising Company (NASDAQ:LAMR) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,293 shares of the real estate investment trust’s stock after selling 670 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Lamar Advertising were worth $2,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Lamar Advertising by 426.0% during the 1st quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust’s stock valued at $74,340,000 after purchasing an additional 533,959 shares during the period. Nuveen LLC purchased a new position in shares of Lamar Advertising in the first quarter worth approximately $40,699,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Lamar Advertising by 181.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust’s stock worth $41,410,000 after buying an additional 234,735 shares during the last quarter. Millennium Management LLC grew its position in Lamar Advertising by 158.6% during the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock valued at $34,918,000 after buying an additional 188,213 shares during the period. Finally, Easterly Investment Partners LLC increased its holdings in Lamar Advertising by 269.4% during the first quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust’s stock valued at $18,061,000 after buying an additional 115,762 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 14.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LAMR. Weiss Ratings cut shares of Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Finally, Wells Fargo & Company decreased their price objective on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and an average target price of $134.20.

Lamar Advertising Stock Up 5.3%

Shares of LAMR stock opened at $126.35 on Monday. The company’s fifty day simple moving average is $122.45 and its two-hundred day simple moving average is $121.40. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $135.91. The stock has a market cap of $12.79 billion, a P/E ratio of 29.38 and a beta of 1.36. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The firm had revenue of $585.54 million for the quarter, compared to analysts’ expectations of $584.00 million. Analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. Lamar Advertising’s dividend payout ratio (DPR) is 145.54%.

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.