Geode Capital Management LLC Buys 59,039 Shares of Lamar Advertising (NASDAQ:LAMR)

Geode Capital Management LLC grew its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,114,001 shares of the real estate investment trust's stock after purchasing an additional 59,039 shares during the period. Geode Capital Management LLC owned about 2.07% of Lamar Advertising worth $257,414,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LAMR. National Bank of Canada FI purchased a new position in Lamar Advertising during the fourth quarter valued at approximately $1,680,000. Franklin Resources Inc. increased its stake in shares of Lamar Advertising by 30.3% in the fourth quarter. Franklin Resources Inc. now owns 67,119 shares of the real estate investment trust's stock worth $8,171,000 after acquiring an additional 15,616 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Lamar Advertising by 3.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,907 shares of the real estate investment trust's stock worth $841,000 after acquiring an additional 226 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in Lamar Advertising during the fourth quarter valued at $263,000. Finally, Pictet Asset Management Holding SA grew its stake in Lamar Advertising by 9.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust's stock valued at $1,466,000 after purchasing an additional 1,087 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LAMR shares. 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 research note on Friday, February 21st. Citigroup raised their price objective 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising currently has a consensus rating of "Hold" and a consensus target price of $134.60.

Lamar Advertising Stock Performance

LAMR traded down $2.75 on Thursday, hitting $110.93. The company had a trading volume of 226,914 shares, compared to its average volume of 471,838. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 31.32 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. The company's fifty day moving average price is $118.93 and its 200 day moving average price is $125.51. Lamar Advertising has a 1-year low of $99.84 and a 1-year high of $139.88.

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 for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million during the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Equities 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.59%. Lamar Advertising's payout ratio is presently 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.