Glenmede Trust Co. NA Raises Position in Lamar Advertising Co (LAMR)

Glenmede Trust Co. NA lifted its stake in Lamar Advertising Co (NASDAQ:LAMR) by 10.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,776 shares of the real estate investment trust’s stock after purchasing an additional 16,163 shares during the period. Glenmede Trust Co. NA’s holdings in Lamar Advertising were worth $11,940,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Hong Kong Ltd increased its holdings in shares of Lamar Advertising by 566.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,606 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 1,365 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Lamar Advertising in the second quarter valued at approximately $137,000. Qube Research & Technologies Ltd acquired a new stake in shares of Lamar Advertising in the second quarter valued at approximately $164,000. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Lamar Advertising in the first quarter valued at approximately $164,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Lamar Advertising in the first quarter valued at approximately $203,000. 83.46% of the stock is owned by institutional investors and hedge funds.

LAMR opened at $76.91 on Monday. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48. Lamar Advertising Co has a 52 week low of $61.36 and a 52 week high of $79.40. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 15.23 and a beta of 1.14.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Wednesday, August 8th. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Lamar Advertising had a net margin of 18.93% and a return on equity of 27.75%. The firm had revenue of $419.80 million during the quarter, compared to analyst estimates of $416.75 million. During the same quarter in the previous year, the business earned $0.94 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. equities analysts expect that Lamar Advertising Co will post 5.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Thursday, September 13th. Lamar Advertising’s dividend payout ratio is presently 72.08%.

LAMR has been the subject of a number of research reports. BidaskClub lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. TheStreet raised shares of Lamar Advertising from a “c+” rating to a “b-” rating in a report on Wednesday, June 6th. Zacks Investment Research lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Finally, MKM Partners lifted their target price on shares of Lamar Advertising to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $77.33.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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

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