HB Wealth Management LLC acquired a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,398 shares of the real estate investment trust's stock, valued at approximately $414,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in Lamar Advertising by 2.9% during the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock worth $567,632,000 after acquiring an additional 119,068 shares during the period. State Street Corp lifted its holdings in shares of 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 worth $352,752,000 after purchasing an additional 21,852 shares during the last quarter. Geode Capital Management LLC boosted its position in Lamar Advertising by 4.6% during 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 purchasing an additional 90,775 shares during the period. Wellington Management Group LLP grew its stake in 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 worth $263,840,000 after buying an additional 617,356 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Lamar Advertising by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after buying an additional 90,933 shares during the period. Institutional investors own 93.78% of the company's stock.
Lamar Advertising Price Performance
NASDAQ:LAMR traded up $1.76 during mid-day trading on Friday, reaching $128.15. 238,639 shares of the stock were exchanged, compared to its average volume of 474,667. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The business has a fifty day moving average price of $126.14 and a 200 day moving average price of $126.15. Lamar Advertising has a 1-year low of $102.10 and a 1-year high of $139.88. The firm has a market capitalization of $13.12 billion, a PE ratio of 25.59 and a beta of 1.50.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 earnings per share. Research analysts expect that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.
Lamar Advertising Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were given a $1.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.37%. Lamar Advertising's dividend payout ratio (DPR) is presently 112.00%.
Wall Street Analyst Weigh In
Several research firms have recently commented on LAMR. TD Cowen upped their price target 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. Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Finally, Morgan Stanley boosted their price target 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $132.40.
Get Our Latest Analysis on Lamar Advertising
Lamar Advertising Company Profile
(
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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