Edgestream Partners L.P. Increases Holdings in Lamar Advertising (NASDAQ:LAMR)

Edgestream Partners L.P. boosted its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 27.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 30,760 shares of the real estate investment trust's stock after purchasing an additional 6,637 shares during the quarter. Edgestream Partners L.P.'s holdings in Lamar Advertising were worth $3,745,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Lamar Advertising by 45.5% during the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust's stock valued at $263,840,000 after acquiring an additional 617,356 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Lamar Advertising during the fourth quarter valued at $48,023,000. Los Angeles Capital Management LLC bought a new position in Lamar Advertising in the third quarter valued at about $43,665,000. Daiwa Securities Group Inc. boosted its position in Lamar Advertising by 148.9% in the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust's stock worth $58,058,000 after purchasing an additional 259,979 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of Lamar Advertising by 631.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust's stock valued at $24,088,000 after purchasing an additional 155,656 shares during the period. 93.78% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

LAMR has been the subject of several recent research reports. Citigroup boosted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut 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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $134.60.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR traded down $2.50 during midday trading on Wednesday, reaching $114.26. 790,149 shares of the company were exchanged, compared to its average volume of 422,612. The stock has a market cap of $11.70 billion, a PE ratio of 32.37 and a beta of 1.53. The business's fifty day moving average is $124.45 and its two-hundred day moving average is $127.97. Lamar Advertising has a one year low of $108.80 and a one year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS 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 during the quarter, compared to the consensus estimate of $583.19 million. As a group, analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.43%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising's dividend payout ratio is 175.64%.

Lamar Advertising Company 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.