K.J. Harrison & Partners Inc purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,500 shares of the real estate investment trust's stock, valued at approximately $908,000.
Several other institutional investors also recently modified their holdings of the stock. Checchi Capital Advisers LLC increased its holdings in Lamar Advertising by 26.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,142 shares of the real estate investment trust's stock valued at $261,000 after purchasing an additional 453 shares during the period. Amalgamated Bank increased its holdings in Lamar Advertising by 0.4% in the fourth quarter. Amalgamated Bank now owns 42,331 shares of the real estate investment trust's stock valued at $5,153,000 after purchasing an additional 176 shares during the period. Wealthspire Advisors LLC increased its holdings in Lamar Advertising by 1.9% in the fourth quarter. Wealthspire Advisors LLC now owns 7,347 shares of the real estate investment trust's stock valued at $894,000 after purchasing an additional 140 shares during the period. Navellier & Associates Inc. increased its holdings in Lamar Advertising by 36.3% in the fourth quarter. Navellier & Associates Inc. now owns 6,304 shares of the real estate investment trust's stock valued at $767,000 after purchasing an additional 1,680 shares during the period. Finally, Boston Financial Mangement LLC increased its holdings in Lamar Advertising by 1.9% in the fourth quarter. Boston Financial Mangement LLC now owns 20,947 shares of the real estate investment trust's stock valued at $2,550,000 after purchasing an additional 393 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Lamar Advertising Stock Up 1.7 %
Shares of LAMR stock traded up $2.07 on Friday, reaching $124.23. 570,128 shares of the company were exchanged, compared to its average volume of 513,473. Lamar Advertising has a one year low of $108.30 and a one year high of $139.88. The company has a market cap of $12.72 billion, a price-to-earnings ratio of 35.19 and a beta of 1.51. 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 company has a 50-day moving average of $124.45 and a 200-day moving average of $127.76.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. Analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.55 dividend. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 4.99%. Lamar Advertising's dividend payout ratio (DPR) is presently 175.64%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. TD Cowen increased their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. StockNews.com downgraded Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price target on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Finally, Citigroup increased their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Lamar Advertising presently has a consensus rating of "Hold" and an average target price of $134.60.
Check Out Our Latest 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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