Oppenheimer Asset Management Inc. bought a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,024 shares of the real estate investment trust's stock, valued at approximately $368,000.
A number of other institutional investors have also modified their holdings of the stock. Sanctuary Advisors LLC boosted its holdings in shares of Lamar Advertising by 0.4% in the 4th quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock valued at $2,442,000 after buying an additional 82 shares during the period. Avior Wealth Management LLC lifted its holdings in Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 84 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Lamar Advertising by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock valued at $341,000 after acquiring an additional 85 shares during the period. UMB Bank n.a. grew its holdings in shares of Lamar Advertising by 14.7% during the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Price Performance
Shares of LAMR stock traded down $2.88 during midday trading on Monday, reaching $122.40. 658,972 shares of the company were exchanged, compared to its average volume of 419,239. The company's 50 day moving average price is $124.53 and its two-hundred day moving average price is $127.99. The company has a market cap of $12.53 billion, a P/E ratio of 34.67 and a beta of 1.53. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. 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 (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, sell-side analysts expect 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. Investors of record on Friday, March 14th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.07%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio (DPR) is currently 175.64%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on LAMR shares. TD Cowen boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Morgan Stanley raised 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 note on Monday, November 11th. Wells Fargo & Company cut their price target 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, StockNews.com lowered Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Lamar Advertising presently has an average rating of "Hold" and a consensus price target of $134.60.
Read Our Latest Research Report on LAMR
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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