Meriwether Wealth & Planning LLC acquired a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,619 shares of the real estate investment trust's stock, valued at approximately $319,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its holdings in shares of Lamar Advertising by 108.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after buying an additional 470,805 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its position in Lamar Advertising by 11.4% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 7,359 shares of the real estate investment trust's stock worth $896,000 after acquiring an additional 753 shares in the last quarter. Amundi grew its position in Lamar Advertising by 108.3% in the fourth quarter. Amundi now owns 19,698 shares of the real estate investment trust's stock worth $2,368,000 after acquiring an additional 10,241 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Lamar Advertising during the 4th quarter worth $25,000. Finally, Edgestream Partners L.P. lifted its stake in shares of Lamar Advertising by 27.5% in the 4th quarter. Edgestream Partners L.P. now owns 30,760 shares of the real estate investment trust's stock valued at $3,745,000 after purchasing an additional 6,637 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on LAMR shares. TD Cowen increased their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Citigroup increased their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $134.60.
View Our Latest Stock Report on Lamar Advertising
Lamar Advertising Stock Performance
Lamar Advertising stock traded down $4.58 on Tuesday, hitting $117.82. The company's stock had a trading volume of 490,375 shares, compared to its average volume of 419,708. The firm has a market cap of $12.06 billion, a P/E ratio of 33.34 and a beta of 1.53. The company has a fifty day moving average price of $124.55 and a 200-day moving average price of $128.01. Lamar Advertising has a one year low of $108.80 and a one year high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. On average, equities analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.55 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.26%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's payout ratio is 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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