Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC increased its stake in Lamar Advertising (NASDAQ:LAMR) by 0.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 90,077 shares of the real estate investment trust’s stock after purchasing an additional 462 shares during the quarter. Lamar Advertising makes up 1.8% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Gilman Hill Asset Management LLC owned approximately 0.09% of Lamar Advertising worth $10,249,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its holdings in shares of Lamar Advertising by 453.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock worth $323,900,000 after buying an additional 2,180,011 shares during the last quarter. FMR LLC lifted its holdings in shares of Lamar Advertising by 11.0% during the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock worth $672,890,000 after buying an additional 545,606 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust’s stock worth $110,220,000 after buying an additional 470,805 shares during the last quarter. Norges Bank acquired a new position in shares of Lamar Advertising during the fourth quarter worth approximately $57,255,000. Finally, Northern Trust Corp lifted its holdings in shares of Lamar Advertising by 50.5% during the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust’s stock worth $155,632,000 after buying an additional 428,744 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LAMR. Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and upped their price target for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley cut their price target on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $134.00.

Lamar Advertising Stock Performance

LAMR opened at $121.30 on Thursday. The stock has a market cap of $12.42 billion, a PE ratio of 34.36 and a beta of 1.38. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88. The stock’s 50 day simple moving average is $113.93 and its 200-day simple moving average is $120.62.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to analysts’ expectations of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Sell-side analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is 150.49%.

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.