21,726 Shares in Lamar Advertising (NASDAQ:LAMR) Purchased by Sone Capital Management LLC

Sone Capital Management LLC bought a new stake in shares of Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,726 shares of the real estate investment trust’s stock, valued at approximately $2,645,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in Lamar Advertising during the fourth quarter valued at approximately $25,000. Bessemer Group Inc. raised its stake in Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 143 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 108 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 84 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 90 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 2.6%

Shares of NASDAQ:LAMR opened at $119.87 on Monday. The stock has a 50 day moving average of $112.52 and a 200 day moving average of $121.57. The company has a market cap of $12.27 billion, a PE ratio of 33.96 and a beta of 1.38. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. As a group, equities research analysts expect that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Monday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is currently 150.49%.

Analyst Upgrades and Downgrades

LAMR has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Citigroup increased their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley cut their target price on shares of Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $132.60.

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.