Janney Montgomery Scott LLC purchased a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,316 shares of the real estate investment trust's stock, valued at approximately $5,639,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Foundations Investment Advisors LLC grew its position in Lamar Advertising by 2.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust's stock valued at $500,000 after acquiring an additional 80 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Lamar Advertising by 0.7% in the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust's stock valued at $1,576,000 after acquiring an additional 82 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in Lamar Advertising by 6.6% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust's stock worth $180,000 after acquiring an additional 84 shares during the period. CIBC Asset Management Inc lifted its position in shares of Lamar Advertising by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock worth $341,000 after purchasing an additional 85 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.
Lamar Advertising Price Performance
LAMR stock traded up $1.24 during midday trading on Thursday, reaching $126.79. 376,151 shares of the stock were exchanged, compared to its average volume of 462,213. The stock has a market capitalization of $12.98 billion, a PE ratio of 25.36 and a beta of 1.50. Lamar Advertising has a 52 week low of $102.10 and a 52 week high of $139.88. The company has a fifty day moving average price of $126.11 and a 200 day moving average price of $126.46. 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 posted 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). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the previous year, the business posted $2.04 earnings per share. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts expect that Lamar Advertising will post 7.49 EPS for the current fiscal year.
Lamar Advertising Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising's dividend payout ratio is presently 112.00%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. StockNews.com cut shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. TD Cowen lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Wells Fargo & Company reduced their target price on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Morgan Stanley increased their target price 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lamar Advertising has an average rating of "Hold" and a consensus price target of $132.40.
View Our Latest Research Report on Lamar Advertising
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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