Private Management Group Inc. Raises Position in Lamar Advertising (NASDAQ:LAMR)

Private Management Group Inc. boosted its stake in Lamar Advertising (NASDAQ:LAMR) by 21.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,661 shares of the real estate investment trust’s stock after buying an additional 31,102 shares during the quarter. Private Management Group Inc. owned approximately 0.17% of Lamar Advertising worth $18,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC purchased a new position in Lamar Advertising in the 3rd quarter valued at about $30,000. Geneos Wealth Management Inc. lifted its stake in Lamar Advertising by 93.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 359 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Signaturefd LLC lifted its stake in Lamar Advertising by 43.7% in the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter. Arlington Trust Co LLC purchased a new position in Lamar Advertising in the 4th quarter worth approximately $57,000. Finally, Sunbelt Securities Inc. lifted its stake in Lamar Advertising by 249.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 503 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Trading Up 0.8 %

Shares of NASDAQ LAMR traded up $0.93 during midday trading on Tuesday, reaching $114.64. 235,145 shares of the stock were exchanged, compared to its average volume of 408,344. The company has a 50 day simple moving average of $113.86 and a 200 day simple moving average of $104.13. The stock has a market capitalization of $11.70 billion, a P/E ratio of 23.64 and a beta of 1.50. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). The firm had revenue of $555.91 million for the quarter, compared to analyst estimates of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same quarter in the prior year, the business earned $1.91 EPS. As a group, equities analysts expect that Lamar Advertising will post 7.54 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s dividend payout ratio (DPR) is 107.22%.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. 14.98% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Finally, Morgan Stanley raised their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th.

Lamar Advertising Company 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.