Russell Investments Group Ltd. Grows Position in Lamar Advertising Company (REIT) (NASDAQ:LAMR)

Russell Investments Group Ltd. grew its stake in shares of Lamar Advertising Company (REIT) (NASDAQ:LAMRGet Rating) by 95.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,912 shares of the real estate investment trust’s stock after buying an additional 134,090 shares during the period. Russell Investments Group Ltd. owned 0.27% of Lamar Advertising worth $33,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LAMR. Geneos Wealth Management Inc. increased its position in shares of Lamar Advertising by 103.5% during the third quarter. Geneos Wealth Management Inc. now owns 289 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 147 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Lamar Advertising during the third quarter valued at about $35,000. Allworth Financial LP bought a new stake in shares of Lamar Advertising during the third quarter valued at about $42,000. Whittier Trust Co. increased its position in shares of Lamar Advertising by 267.6% during the third quarter. Whittier Trust Co. now owns 386 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 281 shares during the period. Finally, AdvisorNet Financial Inc bought a new position in shares of Lamar Advertising in the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Separately, Morgan Stanley decreased their price objective on shares of Lamar Advertising from $138.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 28th.

LAMR stock opened at $113.62 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 2.35. The company’s 50 day moving average is $110.20 and its 200 day moving average is $113.96. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 29.74 and a beta of 1.42. Lamar Advertising Company has a 1-year low of $89.51 and a 1-year high of $124.32.

Lamar Advertising (NASDAQ:LAMRGet Rating) last issued its earnings results on Friday, February 25th. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.03. The business had revenue of $494.60 million during the quarter, compared to analyst estimates of $473.38 million. Lamar Advertising had a return on equity of 31.86% and a net margin of 21.71%. Lamar Advertising’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 earnings per share. As a group, sell-side analysts forecast that Lamar Advertising Company will post 6.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Monday, March 21st will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, March 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.00. Lamar Advertising’s dividend payout ratio is 115.18%.

Lamar Advertising Profile (Get Rating)

Lamar Advertising Co engages in advertising services. The firm rents advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.

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