Prudential Financial Inc. Has $4.36 Million Stake in Lamar Advertising Company (LAMR)

Prudential Financial Inc. boosted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,289 shares of the real estate investment trust’s stock after buying an additional 3,450 shares during the period. Prudential Financial Inc.’s holdings in Lamar Advertising Company were worth $4,356,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of LAMR. Penserra Capital Management LLC purchased a new position in shares of Lamar Advertising Company during the first quarter valued at approximately $169,000. Cigna Investments Inc. New purchased a new position in shares of Lamar Advertising Company during the fourth quarter valued at approximately $204,000. Creative Planning boosted its position in shares of Lamar Advertising Company by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 290 shares in the last quarter. HL Financial Services LLC purchased a new position in shares of Lamar Advertising Company during the first quarter valued at approximately $217,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Lamar Advertising Company during the first quarter valued at approximately $226,000. 86.42% of the stock is owned by institutional investors.

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

Lamar Advertising Company (NASDAQ:LAMR) opened at 73.34 on Friday. The firm has a 50-day moving average of $70.73 and a 200-day moving average of $72.54. Lamar Advertising Company has a 1-year low of $58.68 and a 1-year high of $79.09. The stock has a market cap of $7.18 billion, a PE ratio of 24.96 and a beta of 1.21.

Lamar Advertising Company (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by $0.49. Lamar Advertising Company had a net margin of 19.18% and a return on equity of 27.42%. The company had revenue of $346.40 million for the quarter, compared to analysts’ expectations of $347.06 million. During the same period last year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Lamar Advertising Company will post $3.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Tuesday, June 13th. Lamar Advertising Company’s dividend payout ratio (DPR) is currently 112.93%.

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A number of equities analysts have commented on LAMR shares. Loop Capital reissued a “buy” rating and issued a $87.00 price target on shares of Lamar Advertising Company in a research note on Friday, June 9th. ValuEngine raised shares of Lamar Advertising Company from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. BidaskClub raised shares of Lamar Advertising Company from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. MKM Partners cut their price target on shares of Lamar Advertising Company from $73.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of Lamar Advertising Company from a “hold” rating to a “sell” rating in a research note on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $74.60.

In other Lamar Advertising Company news, Director Stephen P. Mumblow sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the completion of the sale, the director now directly owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anna Reilly sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $74.83, for a total transaction of $3,741,500.00. Following the sale, the director now directly owns 141,859 shares of the company’s stock, valued at $10,615,308.97. The disclosure for this sale can be found here. Company insiders own 18.66% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:LAMR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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