Lamar Advertising (NASDAQ:LAMR) Declares Quarterly Dividend of $1.20
Lamar Advertising (NASDAQ:LAMR – Get Rating) announced a quarterly dividend on Thursday, May 19, Zacks reports. Shareholders of record on Monday, June 20 will receive a dividend of 1.20 per share from the REIT on Thursday, June 30. This represents an annualized dividend of $4.80 and a dividend yield of 5.05%. The ex-dividend date is Thursday, June 16. This is a positive change from Lamar Advertising‘s previous quarterly dividend of $1.10.
Lamar Advertising has increased its dividend payout by an average of 3.1% per year over the past three years and has increased its dividend every year for the past 2 years. Lamar Advertising has a payout ratio of 84.5%, which means its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Lamar Advertising to earn $7.33 per share next year, meaning the company should continue to be able to cover its $4.40 annual dividend with a future payout ratio. forecast of 60.0%.
LAMR opened at $94.97 on Friday. The company has a market capitalization of $9.64 billion, a price-earnings ratio of 21.83 and a beta of 1.37. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt ratio of 2.43. Lamar Advertising has a 12-month low of $93.42 and a 12-month high of $124.32. The stock has a fifty-day moving average price of $110.09 and a 200-day moving average price of $112.27.
Lamar Advertising (NASDAQ:LAMR – Get Rating) last released its quarterly results on Thursday, May 5. The real estate investment trust reported EPS of $0.91 for the quarter, beating the consensus estimate of $0.73 by $0.18. The company posted revenue of $451.40 million in the quarter, compared to analyst estimates of $427.21 million. Lamar Advertising had a return on equity of 35.97% and a net margin of 23.66%. The company’s revenue for the quarter increased 21.7% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $1.15. On average, equity research analysts expect Lamar Advertising to post EPS of 6.95 for the current year.
Several research analysts have recently published reports on the company. Wolfe Research launched coverage on Lamar Advertising in a research report on Tuesday, March 29. They set a “market performance” rating and a target price of $131.00 on the stock. Morgan Stanley cut its price target on Lamar Advertising from $138.00 to $135.00 and set an “overweight” rating on the stock in a Monday, Feb. 28 report. Finally, StockNews.com upgraded Lamar Advertising from a “buy” rating to a “strong buy” rating in a research rating on Thursday.
A number of hedge funds have recently changed their LAMR holdings. Invesco Ltd. increased its position in Lamar Advertising by 186.6% in the first quarter. Invesco Ltd. now owns 1,418,785 shares of the real estate investment trust worth $164,834,000 after purchasing an additional 923,689 shares last quarter. Deutsche Bank AG raised its position in shares of Lamar Advertising by 60.1% in the fourth quarter. Deutsche Bank AG now owns 910,520 shares of the real estate investment trust valued at $110,447,000 after acquiring an additional 341,942 shares last quarter. Goldman Sachs Group Inc. increased its position in shares of Lamar Advertising by 22.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 634,654 shares of the real estate investment trust worth $76,985,000 after acquiring an additional 115,374 shares last quarter. State Street Corp increased its position in shares of Lamar Advertising by 3.8% in the first quarter. State Street Corp now owns 2,368,645 shares of the real estate investment trust valued at $275,189,000 after acquiring an additional 85,713 shares last quarter. Finally, BlackRock Inc. increased its position in shares of Lamar Advertising by 0.9% in the fourth quarter. BlackRock Inc. now owns 7,858,477 shares of the real estate investment trust valued at $953,234,000 after acquiring an additional 70,685 shares last quarter. Institutional investors hold 78.03% of the company’s shares.
Lamar Advertising Company Profile (Get an evaluation)
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of advertising formats from billboards, interstate logos, transit and airports, helping local businesses and national brands reach large audiences every day.
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