CAPROCK Group Inc. lessened its position in Lamar Advertising (NASDAQ:LAMR) by 31.1% during the 4th quarter, HoldingsChannel reports. The fund owned 8,379 shares of the real estate investment trust’s stock after selling 3,785 shares during the quarter. CAPROCK Group Inc.’s holdings in Lamar Advertising were worth $599,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department lifted its position in Lamar Advertising by 25.0% during the third quarter. State of Tennessee Treasury Department now owns 50,000 shares of the real estate investment trust’s stock worth $3,427,000 after buying an additional 10,000 shares in the last quarter. Beacon Investment Advisory Services Inc. purchased a new position in Lamar Advertising during the third quarter worth approximately $761,000. State Street Corp lifted its position in Lamar Advertising by 2.7% during the second quarter. State Street Corp now owns 2,225,264 shares of the real estate investment trust’s stock worth $163,707,000 after buying an additional 58,453 shares in the last quarter. Csenge Advisory Group purchased a new position in Lamar Advertising during the third quarter worth approximately $721,000. Finally, Nationwide Fund Advisors lifted its position in Lamar Advertising by 5.9% during the third quarter. Nationwide Fund Advisors now owns 303,871 shares of the real estate investment trust’s stock worth $20,824,000 after buying an additional 16,993 shares in the last quarter. Institutional investors and hedge funds own 84.39% of the company’s stock.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of Lamar Advertising stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $78.33, for a total value of $313,320.00. Following the sale, the director now owns 11,031 shares in the company, valued at $864,058.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.70% of the stock is owned by insiders.
Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($0.34). Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The business had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $392.10 million. During the same quarter in the prior year, the firm earned $0.87 EPS. Lamar Advertising’s revenue for the quarter was up 3.0% compared to the same quarter last year. analysts forecast that Lamar Advertising will post 4.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 4.61%. Lamar Advertising’s dividend payout ratio is currently 105.06%.
A number of equities analysts recently commented on LAMR shares. BidaskClub upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Citigroup downgraded Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price objective on the stock. in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $71.75.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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