Victory Capital Management Inc. Reduces Holdings in Lamar Advertising (NASDAQ:LAMR)

Victory Capital Management Inc. cut its position in Lamar Advertising (NASDAQ:LAMR) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,979,832 shares of the real estate investment trust’s stock after selling 55,803 shares during the quarter. Lamar Advertising comprises 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 25th largest position. Victory Capital Management Inc.’s holdings in Lamar Advertising were worth $475,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SPC Financial Inc. lifted its holdings in Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 103 shares in the last quarter. Woodward Diversified Capital LLC lifted its stake in shares of Lamar Advertising by 2.6% in the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after acquiring an additional 113 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Lamar Advertising by 1.8% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock valued at $789,000 after purchasing an additional 114 shares during the last quarter. Simplicity Wealth LLC grew its stake in Lamar Advertising by 0.4% during the 2nd quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock valued at $3,301,000 after purchasing an additional 121 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Lamar Advertising by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 123 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR opened at $124.37 on Friday. The stock has a market capitalization of $12.72 billion, a PE ratio of 25.54 and a beta of 1.52. The business’s fifty day moving average price is $119.28 and its 200 day moving average price is $117.02. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $126.80.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be paid a $1.40 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 114.99%.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several research analyst reports. TD Cowen increased their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.25.

Lamar Advertising Profile

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.