Zions Bancorporation N.A. Has $1.56 Million Stake in Lamar Advertising (NASDAQ:LAMR)

Zions Bancorporation N.A. trimmed its stake in Lamar Advertising (NASDAQ:LAMR) by 3.8% in the second quarter, HoldingsChannel.com reports. The firm owned 13,044 shares of the real estate investment trust’s stock after selling 514 shares during the period. Zions Bancorporation N.A.’s holdings in Lamar Advertising were worth $1,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased 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 valued at $1,517,554,000 after purchasing an additional 68,484 shares during the period. DAVENPORT & Co LLC grew its holdings in Lamar Advertising by 0.4% during 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 period. Wellington Management Group LLP acquired a new stake in Lamar Advertising during the 4th quarter worth about $111,255,000. Morningstar Investment Services LLC grew its holdings in Lamar Advertising by 97.6% during the 4th quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after acquiring an additional 451,429 shares during the period. Finally, Centersquare Investment Management LLC grew its holdings in Lamar Advertising by 82.8% during the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after acquiring an additional 281,582 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $129.44 on Friday. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $129.51. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of 26.58 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 firm’s 50-day simple moving average is $120.15 and its 200 day simple moving average is $117.73.

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

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.33%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is currently 106.78%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, TD Cowen raised their target price on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $123.25.

Lamar Advertising 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.