Lamar Advertising (NASDAQ:LAMR) Shares Sold by First National Bank of Omaha

First National Bank of Omaha trimmed its holdings in Lamar Advertising (NASDAQ:LAMRFree Report) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,892 shares of the real estate investment trust’s stock after selling 472 shares during the period. First National Bank of Omaha’s holdings in Lamar Advertising were worth $1,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LAMR. Boston Partners lifted its holdings in shares of Lamar Advertising by 32.7% during the 4th quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock worth $313,871,000 after acquiring an additional 727,207 shares during the period. Invesco Ltd. raised its stake in shares of Lamar Advertising by 43.4% during the third quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock valued at $141,352,000 after purchasing an additional 512,182 shares during the period. Norges Bank purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $38,406,000. Centersquare Investment Management LLC grew its position in shares of Lamar Advertising by 1,252.8% during the fourth quarter. Centersquare Investment Management LLC now owns 340,181 shares of the real estate investment trust’s stock worth $36,154,000 after buying an additional 315,034 shares in the last quarter. Finally, Ranger Global Real Estate Advisors LLC grew its position in shares of Lamar Advertising by 129.2% during the third quarter. Ranger Global Real Estate Advisors LLC now owns 477,140 shares of the real estate investment trust’s stock worth $39,827,000 after buying an additional 268,934 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, the director now directly owns 32,178 shares in the company, valued at $3,862,968.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 14.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LAMR. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Morgan Stanley boosted their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st.

Check Out Our Latest Report on Lamar Advertising

Lamar Advertising Stock Down 0.8 %

NASDAQ:LAMR traded down $0.90 on Friday, hitting $115.95. 32,977 shares of the company’s stock traded hands, compared to its average volume of 401,556. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $122.22. The firm has a 50-day moving average price of $116.38 and a 200-day moving average price of $110.75. The company has a market cap of $11.85 billion, a PE ratio of 23.99 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMRGet Free Report) last announced its quarterly earnings results 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 firm had revenue of $498.15 million during the quarter, compared to the consensus estimate of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. Equities analysts anticipate that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $5.20 annualized dividend and a yield of 4.48%. Lamar Advertising’s dividend payout ratio (DPR) is currently 106.78%.

Lamar Advertising Company Profile

(Free Report)

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.

Further Reading

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

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