Pacer Advisors Inc. Has $388,000 Holdings in Lamar Advertising Company (NASDAQ:LAMR)

Pacer Advisors Inc. lessened its stake in Lamar Advertising Company (NASDAQ:LAMR) by 73.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,410 shares of the real estate investment trust’s stock after selling 9,440 shares during the quarter. Pacer Advisors Inc.’s holdings in Lamar Advertising were worth $388,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in Lamar Advertising by 40.1% during the 1st quarter. Assetmark Inc. now owns 36,470 shares of the real estate investment trust’s stock valued at $4,150,000 after purchasing an additional 10,442 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in Lamar Advertising by 11.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 26,792 shares of the real estate investment trust’s stock valued at $3,048,000 after purchasing an additional 2,661 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in Lamar Advertising by 2.7% during the 1st quarter. Gilbert & Cook Inc. now owns 4,455 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 117 shares during the last quarter. Burney Co. lifted its holdings in Lamar Advertising by 5.5% during the 1st quarter. Burney Co. now owns 13,327 shares of the real estate investment trust’s stock valued at $1,516,000 after purchasing an additional 689 shares during the last quarter. Finally, Advisors Preferred LLC lifted its holdings in Lamar Advertising by 82.1% during the 1st quarter. Advisors Preferred LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $720,000 after purchasing an additional 2,863 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Down 1.1%

LAMR opened at $120.91 on Friday. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $12.38 billion, a P/E ratio of 29.35 and a beta of 1.33. The stock has a fifty day moving average of $122.16 and a 200-day moving average of $119.55.

Lamar Advertising (NASDAQ:LAMR) last posted its 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. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The company had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. On average, equities analysts expect that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $1.55 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.1%. Lamar Advertising’s dividend payout ratio (DPR) is presently 150.49%.

Analyst Ratings Changes

Several brokerages have issued reports on LAMR. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and raised their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley cut their price target on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $134.00.

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.