Strs Ohio Sells 22,831 Shares of Lamar Advertising (NASDAQ:LAMR)

Posted by on Jul 16th, 2023

Strs Ohio decreased its holdings in shares of Lamar Advertising (NASDAQ:LAMR – Free Report) by 19.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,031 shares of the real estate investment trust’s stock after selling 22,831 shares during the period. Strs Ohio owned 0.09% of Lamar Advertising worth $9,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of Lamar Advertising by 115.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 316 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 169 shares during the last quarter. Glassy Mountain Advisors Inc. purchased a new stake in shares of Lamar Advertising in the fourth quarter worth approximately $35,000. Harbour Investments Inc. raised its stake in shares of Lamar Advertising by 79.5% in the fourth quarter. Harbour Investments Inc. now owns 429 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 190 shares during the last quarter. Signaturefd LLC raised its stake in shares of Lamar Advertising by 82.4% in the fourth quarter. Signaturefd LLC now owns 487 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 220 shares during the last quarter. Finally, Concord Wealth Partners purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $59,000. Institutional investors own 79.03% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR opened at $101.57 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.71. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 24.47 and a beta of 1.39. The stock has a 50 day moving average of $95.13 and a 200 day moving average of $99.18. Lamar Advertising has a 12 month low of $81.10 and a 12 month high of $111.49.

Lamar Advertising (NASDAQ:LAMR – Get Free Report) last released its earnings results on Thursday, May 4th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.58). Lamar Advertising had a return on equity of 34.70% and a net margin of 20.59%. The firm had revenue of $471.33 million during the quarter, compared to analysts’ expectations of $470.51 million. During the same period in the prior year, the business earned $1.50 earnings per share. As a group, sell-side analysts forecast that Lamar Advertising will post 7.25 earnings per share for the current year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Monday, June 19th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Thursday, June 15th. Lamar Advertising’s dividend payout ratio is currently 120.48%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Lamar Advertising in a research report on Thursday, May 18th. They set a “hold” rating for the company.

Lamar Advertising Profile

(Free Report)

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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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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