Nisa Investment Advisors LLC boosted its position in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 17.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,430 shares of the real estate investment trust’s stock after buying an additional 7,668 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Lamar Advertising were worth $4,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other large investors have also bought and sold shares of the company. Essex Financial Services Inc. increased its position in Lamar Advertising by 17.9% in the third quarter. Essex Financial Services Inc. now owns 5,837 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 885 shares during the last quarter. Institutional & Family Asset Management LLC increased its position in Lamar Advertising by 652.2% in the third quarter. Institutional & Family Asset Management LLC now owns 519 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 450 shares during the last quarter. Arizona State Retirement System increased its position in Lamar Advertising by 0.5% in the third quarter. Arizona State Retirement System now owns 23,659 shares of the real estate investment trust’s stock worth $1,952,000 after buying an additional 122 shares during the last quarter. Jump Financial LLC increased its position in Lamar Advertising by 14.9% in the third quarter. Jump Financial LLC now owns 4,345 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 563 shares during the last quarter. Finally, Creative Planning increased its position in Lamar Advertising by 16.5% in the third quarter. Creative Planning now owns 5,982 shares of the real estate investment trust’s stock worth $493,000 after buying an additional 846 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Thomas V. Reifenheiser sold 2,200 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $98.61, for a total transaction of $216,942.00. Following the completion of the transaction, the director now directly owns 39,671 shares in the company, valued at $3,911,957.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. 14.99% of the stock is owned by company insiders.
Lamar Advertising Price Performance
Shares of NASDAQ LAMR opened at $106.71 on Thursday. The stock has a market cap of $10.85 billion, a PE ratio of 21.87 and a beta of 1.40. Lamar Advertising has a fifty-two week low of $81.10 and a fifty-two week high of $119.68. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a fifty day moving average of $97.94 and a 200-day moving average of $95.23.
Lamar Advertising Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Friday, December 16th. Lamar Advertising’s dividend payout ratio (DPR) is presently 98.36%.
Analysts Set New Price Targets
Separately, StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, January 27th.
Lamar Advertising Profile
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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