Orrstown Financial Services Inc. cut its stake in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 21.6% in the first quarter, Holdings Channel.com reports. The company held 4,810 shares of the real estate investment trust after selling 1,329 shares during the period. Orrstown Financial Services Inc.’s holdings in Lamar Advertising were worth $559,000 when it last filed with the SEC.
Several other institutional investors and hedge funds have also increased or reduced their stake in LAMR. Braun Stacey Associates Inc. purchased a new equity stake in Lamar Advertising in the fourth quarter valued at $20,221,000. Russell Investments Group Ltd. increased its stake in Lamar Advertising shares to 95.2% in the fourth quarter. Russell Investments Group Ltd. now owns 274,912 shares of the real estate investment trust worth $33,372,000 after purchasing an additional 134,090 shares last quarter. Goldman Sachs Group Inc. increased its stake in shares of Lamar Advertising by 22.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 634,654 shares of the real estate investment trust worth $76,985,000 after buying an additional 115,374 shares last quarter. Eudaimonia Advisors LLC purchased a new stake in shares of Lamar Advertising in the fourth quarter at a value of $13,389,000. Finally, Daiwa Securities Group Inc. increased its stake in Lamar Advertising shares by 7.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,421,294 shares of the real estate investment trust worth $172,403,000 after purchasing an additional 98,651 shares in the last quarter. Institutional investors hold 78.03% of the company’s shares.
NASDAQ:LAMR shares opened at $89.52 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt ratio of 2.43. Lamar Advertising has a 1-year minimum of $83.96 and a 1-year maximum of $124.32. The company has a fifty-day simple moving average of $101.23 and a 200-day simple moving average of $108.91. The company has a market capitalization of $9.08 billion, a price-earnings ratio of 20.58 and a beta of 1.38.
Lamar Advertising (NASDAQ:LAMR – Get Rating) last reported results on Thursday, May 5. The real estate investment trust reported earnings per share of $0.91 for the quarter, beating the consensus estimate of $0.73 by $0.18. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. The company posted revenue of $451.40 million for the quarter, versus analyst estimates of $427.21 million. During the same period last year, the company earned earnings per share of $1.15. The company’s revenues increased by 21.7% compared to the same quarter last year. On average, sell-side analysts expect Lamar Advertising to post EPS of 6.95 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Monday, June 20 will receive a dividend of $1.20 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. This represents an annualized dividend of $4.80 and a yield of 5.36%. The ex-dividend date is Thursday, June 16. Lamar Advertising’s dividend payout ratio (DPR) is 110.35%.
Several analysts have recently released reports on the company. Morgan Stanley downgraded Lamar Advertising from an “overweight” rating to an “equally weighted” rating and lowered its price target for the stock from $135.00 to $103.00 in a Friday, June 10 report. Wolfe Research assumed coverage from Lamar Advertising in a Tuesday, March 29 report. They set a “market performance” rating and a price target of $131.00 for the company. Finally, StockNews.com downgraded Lamar Advertising from a “strong buy” rating to a “buy” rating in a Thursday, June 2 report.
About Lamar Advertising (Get a rating)
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of advertising formats from billboards, interstate logos, transit and airports, helping local businesses and national brands reach large audiences every day.
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