Bokf Na increased its holdings in Lamar Advertising Co (NASDAQ:LAMR) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,194 shares of the real estate investment trust’s stock after purchasing an additional 185 shares during the quarter. Bokf Na’s holdings in Lamar Advertising were worth $2,227,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. lifted its stake in shares of Lamar Advertising by 34.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 31,070 shares of the real estate investment trust’s stock valued at $2,416,000 after purchasing an additional 7,898 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Lamar Advertising by 57.6% in the 3rd quarter. Private Advisor Group LLC now owns 8,450 shares of the real estate investment trust’s stock valued at $657,000 after purchasing an additional 3,088 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Lamar Advertising by 12.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,618 shares of the real estate investment trust’s stock valued at $515,000 after purchasing an additional 743 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at about $786,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Lamar Advertising by 29.0% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,934 shares of the real estate investment trust’s stock valued at $1,862,000 after purchasing an additional 5,380 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors.
Shares of NASDAQ:LAMR opened at $78.30 on Friday. The stock has a market cap of $7.82 billion, a P/E ratio of 14.24 and a beta of 1.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.37. Lamar Advertising Co has a one year low of $61.36 and a one year high of $80.68.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.96 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 66.91%.
In other Lamar Advertising news, CFO Keith A. Istre sold 22,263 shares of Lamar Advertising stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $76.84, for a total transaction of $1,710,688.92. Following the sale, the chief financial officer now directly owns 135,185 shares in the company, valued at approximately $10,387,615.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean E. Reilly sold 107,606 shares of Lamar Advertising stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $79.55, for a total value of $8,560,057.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,869 shares of company stock worth $14,202,746. Company insiders own 15.64% of the company’s stock.
Several equities analysts have recently weighed in on LAMR shares. Zacks Investment Research raised Lamar Advertising from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Tuesday, December 11th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. BidaskClub lowered Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 2nd. Morgan Stanley lifted their price objective on Lamar Advertising from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, December 7th. Finally, MKM Partners lifted their price objective on Lamar Advertising to $81.00 and gave the company a “neutral” rating in a research note on Thursday, February 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $78.50.
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Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 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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