Janus Henderson Group PLC Purchases Shares of 8,128,584 Lamar Advertising Company (LAMR)
Janus Henderson Group PLC bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,128,584 shares of the real estate investment trust’s stock, valued at approximately $598,020,000.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Lamar Advertising by 7.5% during the 2nd quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock valued at $559,646,000 after purchasing an additional 528,392 shares during the period. Vanguard Group Inc. boosted its stake in shares of Lamar Advertising by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,742,042 shares of the real estate investment trust’s stock worth $496,013,000 after acquiring an additional 139,256 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lamar Advertising by 81.2% during the 2nd quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock worth $176,805,000 after acquiring an additional 1,077,170 shares in the last quarter. State Street Corp boosted its stake in shares of Lamar Advertising by 2.2% during the 1st quarter. State Street Corp now owns 2,166,811 shares of the real estate investment trust’s stock worth $161,945,000 after acquiring an additional 46,863 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Lamar Advertising by 8.4% during the 2nd quarter. Royal Bank of Canada now owns 2,024,123 shares of the real estate investment trust’s stock worth $148,914,000 after acquiring an additional 157,639 shares in the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.
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Lamar Advertising Company (NASDAQ:LAMR) traded up 0.29% on Friday, reaching $69.51. 289,027 shares of the company traded hands. Lamar Advertising Company has a 52-week low of $58.68 and a 52-week high of $79.09. The company has a market capitalization of $6.81 billion, a PE ratio of 22.80 and a beta of 1.09. The stock has a 50-day moving average of $66.04 and a 200 day moving average of $69.77.
Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.37). Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The company had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. During the same period last year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Lamar Advertising Company will post $3.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Thursday, September 14th. Lamar Advertising’s dividend payout ratio is currently 109.21%.
A number of analysts recently issued reports on LAMR shares. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Morgan Stanley cut their target price on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Finally, MKM Partners dropped their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Lamar Advertising has a consensus rating of “Hold” and an average target price of $73.00.
Lamar Advertising 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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