Envestnet Asset Management Inc. boosted its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 431,725 shares of the real estate investment trust's stock after acquiring an additional 24,830 shares during the period. Envestnet Asset Management Inc. owned 0.42% of Lamar Advertising worth $52,558,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of LAMR. Boston Partners grew its position in shares of Lamar Advertising by 6.7% during the 4th quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock valued at $295,122,000 after purchasing an additional 152,575 shares in the last quarter. Geode Capital Management LLC increased its stake in Lamar Advertising by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust's stock worth $257,414,000 after acquiring an additional 59,039 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock valued at $200,093,000 after acquiring an additional 90,933 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Lamar Advertising by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,242 shares of the real estate investment trust's stock valued at $134,187,000 after acquiring an additional 9,146 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock worth $110,220,000 after purchasing an additional 470,805 shares in the last quarter. Institutional investors own 93.78% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on LAMR shares. JPMorgan Chase & Co. lowered their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Citigroup lifted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lamar Advertising presently has a consensus rating of "Hold" and an average price target of $134.60.
Read Our Latest Stock Analysis on Lamar Advertising
Lamar Advertising Trading Down 0.4 %
Lamar Advertising stock traded down $0.45 during mid-day trading on Wednesday, hitting $108.91. The company's stock had a trading volume of 143,483 shares, compared to its average volume of 482,586. The business has a 50 day moving average price of $117.74 and a 200-day moving average price of $124.88. Lamar Advertising has a 12 month low of $99.84 and a 12 month high of $139.88. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 30.85 and a beta of 1.34. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its 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. The company had revenue of $579.57 million during the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The company also recently declared 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. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.69%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is presently 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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