FIL Ltd purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,683 shares of the real estate investment trust's stock, valued at approximately $935,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd lifted its stake in Lamar Advertising by 110.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 4,345 shares of the real estate investment trust's stock valued at $580,000 after acquiring an additional 2,283 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Lamar Advertising by 4.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 38,503 shares of the real estate investment trust's stock valued at $5,144,000 after acquiring an additional 1,732 shares in the last quarter. Geode Capital Management LLC lifted its position in Lamar Advertising by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust's stock worth $274,595,000 after purchasing an additional 90,775 shares during the period. Sanctuary Advisors LLC increased its stake in Lamar Advertising by 23.2% in the third quarter. Sanctuary Advisors LLC now owns 19,177 shares of the real estate investment trust's stock valued at $2,500,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Lamar Advertising during the 3rd quarter worth $323,000. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Trading Down 2.1 %
Shares of LAMR traded down $2.33 during mid-day trading on Wednesday, hitting $107.03. 776,399 shares of the company's stock traded hands, compared to its average volume of 484,982. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88. The business's 50-day moving average price is $117.74 and its 200-day moving average price is $124.88. The firm has a market capitalization of $10.96 billion, a P/E ratio of 30.32 and a beta of 1.34.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping 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 the consensus estimate of $583.19 million. As a group, sell-side analysts forecast that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.79%. The ex-dividend date was Friday, March 14th. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio (DPR) is currently 175.64%.
Wall Street Analyst Weigh In
LAMR has been the subject of several recent research reports. Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note 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 on the stock in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and an average price target of $134.60.
Check Out Our Latest Stock Analysis 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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