Inspire Investing LLC invests $234,000 in Lamar Advertising (NASDAQ: LAMR)
Inspire Investing LLC acquired a new position in Lamar Advertising (NASDAQ: LAMR – Get a rating) during the 1st quarter, according to its last Form 13F filed with the Securities & Exchange Commission. The company purchased 2,012 shares of the real estate investment trust, valued at approximately $234,000.
Other institutional investors have also recently increased or reduced their stake in the company. National Bank of Canada FI bought a new stock position in Lamar Advertising in the fourth quarter worth approximately $33,000. UMB Bank NA MO bought a new position in shares of Lamar Advertising in the fourth quarter for a value of approximately $38,000. South Dakota’s Sageworth Trust Co bought a new stock position in Lamar Advertising in the fourth quarter for about $42,000. Benjamin Edwards Inc. increased its holdings of Lamar Advertising shares by 3,118.2% during the fourth quarter. Benjamin Edwards Inc. now owns 354 shares of the real estate investment trust worth $43,000 after purchasing an additional 343 shares during the period. Finally, Covestor Ltd acquired a new equity stake in Lamar Advertising during the fourth quarter worth approximately $49,000. 78.03% of the shares are currently held by institutional investors and hedge funds.
NASDAQ LAMR opened at $91.38 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt ratio of 2.43. The stock has a market capitalization of $9.27 billion, a PE ratio of 21.01 and a beta of 1.36. The company has a 50-day moving average price of $94.55 and a two-hundred-day moving average price of $106.54. Lamar Advertising has a 12 month minimum of $83.96 and a 12 month maximum of $124.32.
Advertisement Lamar (NASDAQ: LAMR – Get a rating) last reported results on Thursday, May 5. The real estate investment trust reported earnings per share (EPS) of $0.91 for the quarter, beating consensus analyst estimates of $0.73 by $0.18. The company posted revenue of $451.40 million in the quarter, compared to $427.21 million expected by analysts. Lamar Advertising achieved a net margin of 23.66% and a return on equity of 35.97%. The company’s revenue increased by 21.7% compared to the same quarter last year. During the same period of the previous year, the company made earnings per share of $1.15. As a group, equity analysts expect Lamar Advertising to post EPS of 6.95 for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Monday, June 20 received a dividend of $1.20. The ex-dividend date was Thursday, June 16. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.10. This represents a dividend of $4.80 on an annualized basis and a yield of 5.25%. Lamar Advertising’s payout ratio is 110.35%.
In other Lamar Advertising news, Director Anna Reilly sold 10,000 shares of Lamar Advertising in a trade that took place on Thursday, June 23. The shares were sold at an average price of $90.17, for a total value of $901,700.00. Following the completion of the sale, the administrator now directly owns 145,928 shares of the company, valued at $13,158,327.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 14.99% of the shares are held by insiders.
Several analysts have recently commented on LAMR shares. Citigroup upgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating and lowered its price target for the stock from $112.00 to $108.00 in a report released Thursday. Morgan Stanley cut shares of Lamar Advertising from an “overweight” rating to an “equal weight” rating and lowered its price target for the stock from $135.00 to $103.00 in a Friday 10 report. June. StockNews.com cut shares of Lamar Advertising from a “strong buy” rating to a “buy” rating in a Thursday, June 2, report. Finally, Wolfe Research began covering shares of Lamar Advertising in a report on Tuesday, March 29. They set a “market performance” rating and a price target of $131.00 for the company. Two analysts rated the stock with a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, Lamar Advertising has an average rating of “Moderate Buy” and an average price target of $114.00.
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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