Truist Financial Corp Buys 3,373 Shares of Lamar Advertising (NASDAQ:LAMR)


Truist Financial Corp raised its position in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,881 shares of the real estate investment trust’s stock after acquiring an additional 3,373 shares during the period. Truist Financial Corp’s holdings in Lamar Advertising were worth $7,189,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Lamar Advertising by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,562,550 shares of the real estate investment trust’s stock worth $310,837,000 after purchasing an additional 45,618 shares in the last quarter. State Street Corp increased its stake in Lamar Advertising by 2.5% during the 4th quarter. State Street Corp now owns 2,282,932 shares of the real estate investment trust’s stock worth $276,920,000 after acquiring an additional 54,784 shares during the period. Daiwa Securities Group Inc. raised its holdings in Lamar Advertising by 7.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,421,294 shares of the real estate investment trust’s stock valued at $172,403,000 after acquiring an additional 98,651 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Lamar Advertising by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,374,802 shares of the real estate investment trust’s stock worth $166,763,000 after purchasing an additional 12,439 shares in the last quarter. Finally, Boston Partners increased its position in shares of Lamar Advertising by 2.2% in the fourth quarter. Boston Partners now owns 1,216,127 shares of the real estate investment trust’s stock worth $147,502,000 after purchasing an additional 26,395 shares during the period. 78.03% of the stock is currently owned by institutional investors.

In other Lamar Advertising news, Director Anna Reilly sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $90.17, for a total transaction of $901,700.00. Following the completion of the sale, the director now directly owns 145,928 shares of the company’s stock, valued at approximately $13,158,327.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.99% of the company’s stock.

NASDAQ: LAMR opened at $90.38 on Thursday. The stock’s 50-day moving average is $93.46 and its 200-day moving average is $105.95. Lamar Advertising has a 1-year low of $83.96 and a 1-year high of $124.32. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.43. The stock has a market cap of $9.17 billion, a P/E ratio of 20.78 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last announced its earnings results on Thursday, May 5th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.18. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. The business had revenue of $451.40 million during the quarter, compared to analyst estimates of $427.21 million. During the same period last year, the company earned $1.15 EPS. Lamar Advertising’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts forecast that Lamar Advertising will post 6.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 20th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $4.80 annualized dividend and a dividend yield of 5.31%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.10. Lamar Advertising’s dividend payout ratio is currently 110.35%.

Several equities analysts have commented on LAMR shares. Wolfe Research assumed coverage on shares of Lamar Advertising in a report on Tuesday, March 29th. They issued a “market perform” rating and a $131.00 target price on the stock. Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $112.00 to $108.00 in a research note on Thursday, July 7th. StockNews.com cut Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 2nd. Finally, Morgan Stanley cut Lamar Advertising from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $135.00 to $103.00 in a report on Friday, June 10th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Lamar Advertising Profile (GetRating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 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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