Easterly Investment Partners LLC lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,971 shares of the real estate investment trust's stock after selling 48,645 shares during the quarter. Easterly Investment Partners LLC's holdings in Lamar Advertising were worth $5,231,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its position in shares of Lamar Advertising by 9.8% in the 4th quarter. Blair William & Co. IL now owns 5,295 shares of the real estate investment trust's stock worth $645,000 after purchasing an additional 472 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Lamar Advertising by 2.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,165 shares of the real estate investment trust's stock worth $7,076,000 after buying an additional 1,284 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its holdings in Lamar Advertising by 2.9% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,499 shares of the real estate investment trust's stock worth $426,000 after buying an additional 100 shares during the period. Zions Bancorporation N.A. boosted its position in Lamar Advertising by 19.3% during the 4th quarter. Zions Bancorporation N.A. now owns 18,375 shares of the real estate investment trust's stock valued at $2,237,000 after acquiring an additional 2,968 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Lamar Advertising during the 4th quarter valued at approximately $341,000. Hedge funds and other institutional investors own 93.78% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on LAMR shares. JPMorgan Chase & Co. decreased their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Citigroup increased their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five 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.com, the company has an average rating of "Hold" and an average price target of $134.60.
Read Our Latest Stock Analysis on LAMR
Lamar Advertising Price Performance
Shares of NASDAQ LAMR traded up $0.71 during mid-day trading on Monday, hitting $113.17. 115,750 shares of the company's stock traded hands, compared to its average volume of 447,733. The company has a market capitalization of $11.59 billion, a P/E ratio of 32.00 and a beta of 1.53. Lamar Advertising has a 1 year low of $108.80 and a 1 year high of $139.88. 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's 50-day moving average is $122.38 and its two-hundred day moving average is $126.96.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, equities analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.55 per share. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 5.48%. Lamar Advertising's payout ratio is 175.64%.
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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