Crossingbridge Advisors LLC Invests $1.83 Million in Lamar Advertising (NASDAQ:LAMR)

Crossingbridge Advisors LLC bought a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 15,000 shares of the real estate investment trust's stock, valued at approximately $1,826,000. Lamar Advertising makes up approximately 0.6% of Crossingbridge Advisors LLC's investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in Lamar Advertising in the 4th quarter valued at about $25,000. Bessemer Group Inc. grew its stake in shares of Lamar Advertising by 106.7% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 143 shares during the last quarter. Blue Trust Inc. increased its holdings 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 valued at $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc increased its holdings 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 valued at $55,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings 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 valued at $71,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Analysts Set New Price Targets

LAMR has been the subject of a number of research reports. Citigroup raised their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Lamar Advertising presently has an average rating of "Hold" and an average price target of $134.60.

Lamar Advertising Trading Up 1.5 %

LAMR traded up $1.68 during trading on Monday, reaching $113.80. 513,648 shares of the company's stock were exchanged, compared to its average volume of 493,889. The company's fifty day moving average price is $114.36 and its 200-day moving average price is $123.44. 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 has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The firm has a market capitalization of $11.65 billion, a PE ratio of 32.24 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. As a group, equities analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's payout ratio is currently 175.64%.

Lamar Advertising Profile

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.