Raymond James Financial Inc. purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 394,471 shares of the real estate investment trust's stock, valued at approximately $48,023,000. Raymond James Financial Inc. owned about 0.39% of Lamar Advertising as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Lamar Advertising in the third quarter worth $25,000. Assetmark Inc. increased its position in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 117 shares in the last quarter. Blue Trust Inc. increased its position in shares of Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on LAMR. Citigroup increased their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of 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 equities 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.com, the stock has a consensus rating of "Hold" and an average target price of $134.60.
View Our Latest Research Report on Lamar Advertising
Lamar Advertising Stock Performance
Lamar Advertising stock opened at $116.76 on Wednesday. Lamar Advertising has a 12-month low of $108.80 and a 12-month high of $139.88. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 33.08 and a beta of 1.53. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm's fifty day moving average price is $124.45 and its 200 day moving average price is $127.97.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, research analysts forecast that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.55 per share. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is currently 175.64%.
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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