Ritholtz Wealth Management bought a new position in shares of Lamar Advertising (NASDAQ:LAMR – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,140 shares of the real estate investment trust’s stock, valued at approximately $314,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its holdings in shares of Lamar Advertising by 115.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 316 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 169 shares during the period. Glassy Mountain Advisors Inc. purchased a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $35,000. Harbour Investments Inc. lifted its stake in shares of Lamar Advertising by 79.5% in the 4th quarter. Harbour Investments Inc. now owns 429 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 190 shares during the period. Signaturefd LLC boosted its holdings in Lamar Advertising by 82.4% during the fourth quarter. Signaturefd LLC now owns 487 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 220 shares in the last quarter. Finally, Concord Wealth Partners acquired a new stake in Lamar Advertising during the fourth quarter valued at $59,000. Institutional investors and hedge funds own 79.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com assumed coverage on shares of Lamar Advertising in a research note on Thursday, May 18th. They set a “hold” rating on the stock.
Lamar Advertising Price Performance
Lamar Advertising (NASDAQ:LAMR – Free Report) last announced its earnings results on Thursday, May 4th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.58). Lamar Advertising had a net margin of 20.59% and a return on equity of 34.70%. The company had revenue of $471.33 million during the quarter, compared to analyst estimates of $470.51 million. During the same quarter last year, the business earned $1.50 EPS. As a group, equities research analysts anticipate that Lamar Advertising will post 7.25 earnings per share for the current fiscal year.
Lamar Advertising Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Monday, June 19th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $5.00 annualized dividend and a yield of 5.04%. Lamar Advertising’s dividend payout ratio (DPR) is currently 120.48%.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 363,000 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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