Ieq Capital LLC purchased a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 2,075 shares of the real estate investment trust's stock, valued at approximately $253,000.
A number of other large investors also recently made changes to their positions in the business. Janus Henderson Group PLC grew its position in shares of Lamar Advertising by 2.9% in the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock valued at $567,632,000 after purchasing an additional 119,068 shares during the period. State Street Corp grew its holdings in Lamar Advertising by 0.8% in the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock valued at $352,752,000 after buying an additional 21,852 shares during the period. Geode Capital Management LLC grew its holdings in Lamar Advertising by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust's stock valued at $274,595,000 after buying an additional 90,775 shares during the period. Wellington Management Group LLP increased its stake in shares of Lamar Advertising by 45.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust's stock valued at $263,840,000 after acquiring an additional 617,356 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after acquiring an additional 90,933 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on LAMR shares. StockNews.com downgraded shares of Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Wells Fargo & Company reduced their target price on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Citigroup upped their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $134.60.
Check Out Our Latest Research Report on LAMR
Lamar Advertising Stock Down 1.0 %
Shares of NASDAQ:LAMR traded down $1.20 during midday trading on Tuesday, hitting $123.21. 301,210 shares of the company's stock traded hands, compared to its average volume of 422,014. The firm's fifty day moving average price is $124.46 and its two-hundred day moving average price is $127.86. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88. The company has a market cap of $12.62 billion, a PE ratio of 34.91 and a beta of 1.51.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The company had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. On average, equities research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is currently 175.64%.
About Lamar Advertising
(
Free Report)
Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.
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