Shelton Capital Management purchased a new position in Lamar Advertising Company (NASDAQ:LAMR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,070 shares of the real estate investment trust’s stock, valued at approximately $447,000.
Several other large investors also recently modified their holdings of LAMR. Westpac Banking Corp purchased a new position in shares of Lamar Advertising in the 2nd quarter worth about $176,000. Penserra Capital Management LLC boosted its holdings in shares of Lamar Advertising by 9.5% in the 2nd quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 214 shares during the last quarter. Verity Asset Management Inc. purchased a new position in shares of Lamar Advertising in the 2nd quarter worth about $204,000. Two Sigma Securities LLC purchased a new position in shares of Lamar Advertising in the 1st quarter worth about $220,000. Finally, SPC Financial Inc. purchased a new position in shares of Lamar Advertising in the 2nd quarter worth about $221,000. 85.05% of the stock is currently owned by institutional investors.
Lamar Advertising Company (NASDAQ:LAMR) opened at 67.96 on Wednesday. The stock has a market capitalization of $6.66 billion, a P/E ratio of 22.29 and a beta of 1.09. Lamar Advertising Company has a one year low of $58.68 and a one year high of $79.09. The company has a 50 day moving average of $65.68 and a 200-day moving average of $69.82.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.83 per share. The ex-dividend date was Thursday, September 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.89%. Lamar Advertising’s dividend payout ratio is currently 109.21%.
ILLEGAL ACTIVITY NOTICE: “Shelton Capital Management Invests $447,000 in Lamar Advertising Company (LAMR)” was posted by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.com-unik.info/2017/10/11/shelton-capital-management-invests-447000-in-lamar-advertising-company-lamr.html.
LAMR has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Morgan Stanley cut their price target on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. ValuEngine raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, Wells Fargo & Company downgraded shares of Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.00.
About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
What are top analysts saying about Lamar Advertising Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Lamar Advertising Company and related companies.