ProVise Management Group LLC lowered its stake in shares of Lamar Advertising Co (NASDAQ:LAMR) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,758 shares of the real estate investment trust’s stock after selling 275 shares during the quarter. ProVise Management Group LLC’s holdings in Lamar Advertising were worth $932,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Lamar Advertising by 6,818.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 2,264,394 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Lamar Advertising by 7.5% in the 3rd quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock valued at $965,072,000 after acquiring an additional 867,169 shares during the last quarter. Norges Bank bought a new position in shares of Lamar Advertising in the 4th quarter valued at $45,636,000. Rothschild & Co. Asset Management US Inc. bought a new position in shares of Lamar Advertising in the 4th quarter valued at $20,855,000. Finally, Millennium Management LLC raised its position in Lamar Advertising by 183.4% during the 4th quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock worth $25,244,000 after purchasing an additional 236,151 shares during the last quarter. 81.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of LAMR stock traded up $0.50 during mid-day trading on Friday, hitting $80.71. The company’s stock had a trading volume of 273,601 shares, compared to its average volume of 352,571. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.48. The stock’s fifty day simple moving average is $80.77. The company has a market cap of $7.92 billion, a P/E ratio of 14.67 and a beta of 1.00. Lamar Advertising Co has a 52 week low of $64.51 and a 52 week high of $84.50.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.84 dividend on an annualized basis and a yield of 4.76%. Lamar Advertising’s dividend payout ratio (DPR) is currently 69.82%.
Several research analysts recently issued reports on the company. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. BidaskClub lowered Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Zacks Investment Research lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $78.50.
In other Lamar Advertising news, CFO Keith A. Istre sold 16,294 shares of Lamar Advertising stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $80.28, for a total transaction of $1,308,082.32. Following the transaction, the chief financial officer now owns 118,991 shares of the company’s stock, valued at approximately $9,552,597.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas V. Reifenheiser sold 4,000 shares of Lamar Advertising stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $81.05, for a total transaction of $324,200.00. Following the transaction, the director now directly owns 38,708 shares in the company, valued at approximately $3,137,283.40. The disclosure for this sale can be found here. 15.19% of the stock is currently owned by insiders.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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