Gallacher Capital Management LLC Takes $807,000 Position in Lamar Advertising (NASDAQ:LAMR)

Gallacher Capital Management LLC purchased a new position in Lamar Advertising (NASDAQ:LAMR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,752 shares of the real estate investment trust’s stock, valued at approximately $807,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Lamar Advertising by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after buying an additional 68,484 shares during the last quarter. Boston Partners raised its holdings in Lamar Advertising by 32.7% in the 4th quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock worth $313,871,000 after acquiring an additional 727,207 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Lamar Advertising by 0.4% in the 1st quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock worth $210,889,000 after acquiring an additional 7,794 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Lamar Advertising during the 4th quarter valued at $111,255,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lamar Advertising by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after purchasing an additional 30,567 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 1.4 %

LAMR stock opened at $122.63 on Friday. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 25.18 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The business’s 50-day moving average is $119.46 and its two-hundred day moving average is $117.25. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $126.80.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 EPS. As a group, analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 114.99%.

Analyst Ratings Changes

LAMR has been the topic of a number of research analyst reports. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research note on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, TD Cowen boosted their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $123.25.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.