Lamar Advertising (NASDAQ:LAMR) Hits New 12-Month High at $119.63

Lamar Advertising Company (REIT) (NASDAQ:LAMR)’s stock price reached a new 52-week high on Thursday . The company traded as high as $119.63 and last traded at $119.48, with a volume of 527 shares changing hands. The stock had previously closed at $118.52.

Separately, TheStreet upgraded Lamar Advertising from a “c+” rating to a “b+” rating in a research report on Thursday, August 5th.

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $12.08 billion, a P/E ratio of 36.36 and a beta of 1.48. The firm has a 50-day moving average of $113.09 and a two-hundred day moving average of $106.08.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Wednesday, August 4th. The real estate investment trust reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.32. Lamar Advertising had a return on equity of 27.71% and a net margin of 20.20%. During the same quarter in the prior year, the company posted $0.31 earnings per share. On average, sell-side analysts anticipate that Lamar Advertising Company will post 6.38 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Monday, September 20th were given a dividend of $1.00 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Friday, September 17th. Lamar Advertising’s dividend payout ratio is currently 78.43%.

Hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in Lamar Advertising by 5.5% in the first quarter. FMR LLC now owns 293,906 shares of the real estate investment trust’s stock valued at $23,295,000 after purchasing an additional 15,311 shares during the last quarter. Russell Investments Group Ltd. raised its position in Lamar Advertising by 11.0% in the first quarter. Russell Investments Group Ltd. now owns 38,715 shares of the real estate investment trust’s stock valued at $3,633,000 after purchasing an additional 3,825 shares during the last quarter. Teacher Retirement System of Texas raised its position in Lamar Advertising by 22.4% in the first quarter. Teacher Retirement System of Texas now owns 9,663 shares of the real estate investment trust’s stock valued at $908,000 after purchasing an additional 1,771 shares during the last quarter. UBS Group AG increased its stake in shares of Lamar Advertising by 39.5% in the first quarter. UBS Group AG now owns 94,235 shares of the real estate investment trust’s stock valued at $8,850,000 after buying an additional 26,696 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Lamar Advertising by 1.4% in the first quarter. CIBC Private Wealth Group LLC now owns 17,731 shares of the real estate investment trust’s stock valued at $1,665,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

About Lamar Advertising (NASDAQ:LAMR)

Lamar Advertising Co engages in advertising services. The firm rent 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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