Franklin Resources Inc. Buys 15,616 Shares of Lamar Advertising (NASDAQ:LAMR)

Franklin Resources Inc. raised its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 30.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,119 shares of the real estate investment trust's stock after purchasing an additional 15,616 shares during the quarter. Franklin Resources Inc. owned about 0.07% of Lamar Advertising worth $8,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in Lamar Advertising during the 4th quarter valued at $25,000. Blue Trust Inc. lifted its holdings in Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc grew its position in Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 143 shares in the last quarter. Avior Wealth Management LLC increased its stake in Lamar Advertising by 16.8% during the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 84 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Lamar Advertising by 14.7% during the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after buying an additional 90 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on LAMR shares. Citigroup upped their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. 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 note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and a consensus target price of $134.60.

Lamar Advertising Trading Down 0.1 %

NASDAQ LAMR traded down $0.08 on Tuesday, hitting $111.09. 81,559 shares of the company were exchanged, compared to its average volume of 480,295. 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 has a twelve month low of $99.84 and a twelve month high of $139.88. The firm has a market capitalization of $11.38 billion, a P/E ratio of 31.52 and a beta of 1.34. The company's 50 day moving average price is $118.08 and its 200-day moving average price is $124.99.

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 (EPS) for the quarter, beating 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 business had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.58%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's payout ratio is presently 175.64%.

About Lamar Advertising

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.