State of Alaska Department of Revenue raised its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 28.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,440 shares of the real estate investment trust’s stock after buying an additional 9,070 shares during the period. State of Alaska Department of Revenue’s holdings in Lamar Advertising Company were worth $3,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Capital Management LLC raised its position in shares of Lamar Advertising Company by 13.1% in the fourth quarter. Janus Capital Management LLC now owns 6,742,747 shares of the real estate investment trust’s stock valued at $453,383,000 after buying an additional 781,983 shares during the period. Capital Research Global Investors raised its position in shares of Lamar Advertising Company by 9.2% in the third quarter. Capital Research Global Investors now owns 8,878,900 shares of the real estate investment trust’s stock valued at $579,881,000 after buying an additional 748,900 shares during the period. Norges Bank acquired a new position in shares of Lamar Advertising Company during the fourth quarter valued at about $46,223,000. Scout Investments Inc. acquired a new position in shares of Lamar Advertising Company during the third quarter valued at about $41,442,000. Finally, Scopus Asset Management L.P. acquired a new position in shares of Lamar Advertising Company during the third quarter valued at about $24,077,000. 83.75% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Lamar Advertising Company (NASDAQ:LAMR)

Shares of Lamar Advertising Company (NASDAQ:LAMR) traded down 0.90% during mid-day trading on Friday, reaching $72.81. 580,452 shares of the company’s stock traded hands. Lamar Advertising Company has a 12 month low of $58.68 and a 12 month high of $79.09. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 23.87 and a beta of 1.49. The company has a 50 day moving average of $74.92 and a 200 day moving average of $70.20.

Lamar Advertising Company (NASDAQ:LAMR) last released its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by $0.02. The company earned $386.70 million during the quarter, compared to analysts’ expectations of $388.44 million. Lamar Advertising Company had a net margin of 20.06% and a return on equity of 28.50%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. Analysts expect that Lamar Advertising Company will post $3.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were given a $0.83 dividend. This is a positive change from Lamar Advertising Company’s previous quarterly dividend of $0.76. This represents a $3.32 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Monday, March 13th. Lamar Advertising Company’s dividend payout ratio is presently 100.33%.

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A number of analysts recently weighed in on the stock. Goldman Sachs Group Inc upgraded shares of Lamar Advertising Company from a “neutral” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 17th. Zacks Investment Research downgraded shares of Lamar Advertising Company from a “hold” rating to a “sell” rating in a research report on Monday, February 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $69.75.

In related news, Director John Maxwell Hamilton sold 4,000 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $76.20, for a total value of $304,800.00. Following the completion of the sale, the director now directly owns 19,431 shares of the company’s stock, valued at approximately $1,480,642.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith A. Istre sold 25,000 shares of the stock in a transaction on Monday, March 20th. The shares were sold at an average price of $77.47, for a total value of $1,936,750.00. Following the completion of the sale, the chief financial officer now directly owns 169,253 shares of the company’s stock, valued at $13,112,029.91. The disclosure for this sale can be found here. Insiders sold a total of 83,000 shares of company stock valued at $6,287,050 over the last three months. 18.66% of the stock is currently owned by insiders.

Lamar Advertising Company Company Profile

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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