Oppenheimer Asset Management Inc. trimmed its position in Lamar Advertising Co (NASDAQ:LAMR) by 57.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,428 shares of the real estate investment trust’s stock after selling 3,255 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lamar Advertising were worth $196,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LAMR. Bank of Montreal Can boosted its holdings in Lamar Advertising by 365.3% in the 2nd quarter. Bank of Montreal Can now owns 876,642 shares of the real estate investment trust’s stock valued at $70,752,000 after purchasing an additional 688,251 shares during the period. Capital Advisors Inc. OK boosted its holdings in Lamar Advertising by 311.5% in the 2nd quarter. Capital Advisors Inc. OK now owns 215,839 shares of the real estate investment trust’s stock valued at $17,420,000 after purchasing an additional 163,388 shares during the period. Waratah Capital Advisors Ltd. boosted its holdings in Lamar Advertising by 79.1% in the 2nd quarter. Waratah Capital Advisors Ltd. now owns 292,096 shares of the real estate investment trust’s stock valued at $23,575,000 after purchasing an additional 129,043 shares during the period. Federated Investors Inc. PA boosted its holdings in Lamar Advertising by 30.9% in the 1st quarter. Federated Investors Inc. PA now owns 515,898 shares of the real estate investment trust’s stock valued at $40,890,000 after purchasing an additional 121,817 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. boosted its holdings in Lamar Advertising by 36.0% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 410,046 shares of the real estate investment trust’s stock valued at $32,500,000 after purchasing an additional 108,584 shares during the period. 81.02% of the stock is owned by hedge funds and other institutional investors.

Shares of Lamar Advertising stock traded down $0.73 on Friday, hitting $79.01. 6,368 shares of the company traded hands, compared to its average volume of 298,964. The firm’s 50-day simple moving average is $77.53 and its 200 day simple moving average is $79.52. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.33. The company has a market cap of $7.73 billion, a P/E ratio of 14.37 and a beta of 0.96. Lamar Advertising Co has a 12-month low of $64.51 and a 12-month high of $84.50.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.42). The company had revenue of $448.74 million for the quarter, compared to analysts’ expectations of $451.85 million. Lamar Advertising had a net margin of 21.39% and a return on equity of 32.10%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. Analysts predict that Lamar Advertising Co will post 5.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Friday, September 13th. Lamar Advertising’s dividend payout ratio (DPR) is currently 69.82%.

Several research analysts have commented on LAMR shares. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Saturday, September 7th. Finally, Imperial Capital cut their price target on shares of Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating for the company in a report on Wednesday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Lamar Advertising has an average rating of “Hold” and an average target price of $80.75.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 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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