58,241 Shares in Lamar Advertising (NASDAQ:LAMR) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in Lamar Advertising (NASDAQ:LAMR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,241 shares of the real estate investment trust’s stock, valued at approximately $6,190,000. International Assets Investment Management LLC owned 0.06% of Lamar Advertising at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LAMR. Invesco Ltd. lifted its stake in Lamar Advertising by 43.4% in the third quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock worth $141,352,000 after acquiring an additional 512,182 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Lamar Advertising by 2.8% during the third quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust’s stock valued at $120,336,000 after purchasing an additional 39,292 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Lamar Advertising by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,009,456 shares of the real estate investment trust’s stock valued at $84,259,000 after buying an additional 6,314 shares during the period. Makaira Partners LLC raised its stake in Lamar Advertising by 31.7% in the third quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust’s stock worth $63,159,000 after buying an additional 182,111 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Lamar Advertising by 23.7% in the 3rd quarter. HighTower Advisors LLC now owns 600,059 shares of the real estate investment trust’s stock valued at $50,128,000 after acquiring an additional 115,006 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR opened at $117.51 on Wednesday. The stock has a 50-day moving average of $115.30 and a two-hundred day moving average of $106.49. The stock has a market cap of $11.99 billion, a P/E ratio of 24.13 and a beta of 1.49. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). The business had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 earnings per share. As a group, research analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Insider Activity

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 14.98% of the company’s stock.

Analyst Ratings Changes

LAMR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Morgan Stanley increased their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.