Ibex Wealth Advisors acquired a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 49,480 shares of the real estate investment trust's stock, valued at approximately $6,024,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Lamar Advertising by 45.5% during the 3rd 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. Los Angeles Capital Management LLC bought a new stake in shares of Lamar Advertising in the 3rd quarter valued at approximately $43,665,000. International Assets Investment Management LLC grew its stake in shares of Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust's stock valued at $38,090,000 after buying an additional 284,523 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Lamar Advertising by 148.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust's stock valued at $58,058,000 after buying an additional 259,979 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of Lamar Advertising by 631.7% in 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 buying an additional 155,656 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Performance
Shares of LAMR stock traded up $1.24 during trading hours on Thursday, reaching $126.79. 376,151 shares of the company's stock were exchanged, compared to its average volume of 462,213. Lamar Advertising has a fifty-two week low of $102.10 and a fifty-two week high of $139.88. The stock has a market capitalization of $12.98 billion, a P/E ratio of 25.36 and a beta of 1.50. The business has a fifty day moving average price of $126.11 and a 200-day moving average price of $126.46. 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 (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 earnings per share. Analysts predict that Lamar Advertising will post 7.49 EPS for the current fiscal year.
Lamar Advertising Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.42%. Lamar Advertising's payout ratio is 112.00%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on LAMR. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company decreased their target price on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $132.40.
Get Our Latest Analysis on LAMR
Lamar Advertising 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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