Lamar Advertising Company (LAMR) Position Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328,376 shares of the real estate investment trust’s stock after purchasing an additional 89,985 shares during the period. Wells Fargo & Company MN owned 1.36% of Lamar Advertising worth $97,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LAMR. Russell Investments Group Ltd. lifted its position in shares of Lamar Advertising by 9.8% during the first quarter. Russell Investments Group Ltd. now owns 37,892 shares of the real estate investment trust’s stock valued at $2,833,000 after purchasing an additional 3,367 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Lamar Advertising by 4.1% during the first quarter. Great West Life Assurance Co. Can now owns 48,822 shares of the real estate investment trust’s stock valued at $3,648,000 after purchasing an additional 1,933 shares in the last quarter. US Bancorp DE lifted its position in shares of Lamar Advertising by 0.6% during the first quarter. US Bancorp DE now owns 31,261 shares of the real estate investment trust’s stock valued at $2,336,000 after purchasing an additional 174 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Lamar Advertising by 22.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,050 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 551 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Lamar Advertising by 0.4% during the first quarter. Swiss National Bank now owns 136,838 shares of the real estate investment trust’s stock valued at $10,227,000 after purchasing an additional 600 shares in the last quarter. 85.09% of the stock is currently owned by institutional investors.

Lamar Advertising Company (NASDAQ:LAMR) opened at 63.14 on Wednesday. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 20.71 and a beta of 1.11. The company’s 50 day moving average is $66.85 and its 200-day moving average is $71.36. Lamar Advertising Company has a 52-week low of $58.68 and a 52-week high of $79.09.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.37). The company had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. Equities analysts anticipate that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Thursday, September 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 109.21%.

LAMR has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Loop Capital reissued a “buy” rating and set a $87.00 price target on shares of Lamar Advertising in a research report on Friday, June 9th. BidaskClub raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Wells Fargo & Company lowered shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $73.40.

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Lamar Advertising Company Profile

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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

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