Steinberg Global Asset Management increased its stake in shares of Lamar Advertising Co (NASDAQ:LAMR) by 0.4% during the 1st quarter, Holdings Channel reports. The firm owned 64,782 shares of the real estate investment trust’s stock after purchasing an additional 282 shares during the quarter. Steinberg Global Asset Management’s holdings in Lamar Advertising were worth $4,124,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Taylor Hoffman Wealth Management bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $26,000. Whittier Trust Co. increased its position in shares of Lamar Advertising by 336.2% during the 4th quarter. Whittier Trust Co. now owns 458 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 353 shares during the last quarter. Tributary Capital Management LLC bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $42,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Lamar Advertising by 70.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 316 shares during the last quarter. Finally, ERTS Wealth Advisors LLC bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $75,000. 82.27% of the stock is currently owned by hedge funds and other institutional investors.
In other Lamar Advertising news, CFO Keith A. Istre sold 22,263 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $76.84, for a total value of $1,710,688.92. Following the completion of the sale, the chief financial officer now directly owns 135,185 shares in the company, valued at approximately $10,387,615.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean E. Reilly sold 50,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $78.64, for a total value of $3,932,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,869 shares of company stock valued at $14,202,746. 15.64% of the stock is owned by company insiders.
LAMR traded down $0.06 during trading hours on Monday, reaching $81.15. 136,436 shares of the company’s stock traded hands, compared to its average volume of 380,711. Lamar Advertising Co has a 52-week low of $61.84 and a 52-week high of $81.37. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.37. The stock has a market cap of $8.05 billion, a P/E ratio of 14.75 and a beta of 1.00.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.38). Lamar Advertising had a net margin of 18.76% and a return on equity of 28.12%. The business had revenue of $427.90 million for the quarter, compared to analysts’ expectations of $426.29 million. During the same quarter in the previous year, the firm earned $0.88 EPS. Lamar Advertising’s revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Lamar Advertising Co will post 5.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.96 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.84 dividend on an annualized basis and a yield of 4.73%. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.92. Lamar Advertising’s payout ratio is presently 69.82%.
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About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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