JPMorgan Chase & Co. lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,367,403 shares of the real estate investment trust's stock after selling 130,299 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.34% of Lamar Advertising worth $166,468,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in LAMR. Carmel Capital Partners LLC raised its stake in shares of Lamar Advertising by 2.0% in the fourth quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock valued at $494,000 after buying an additional 81 shares during the period. Sanctuary Advisors LLC raised its stake in Lamar Advertising by 0.4% in the 4th quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock valued at $2,442,000 after acquiring an additional 82 shares during the period. Avior Wealth Management LLC raised its stake in Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 84 shares during the period. UMB Bank n.a. lifted its holdings in Lamar Advertising by 14.7% during the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Lamar Advertising by 12.1% during the fourth quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 95 shares during the period. Institutional investors own 93.78% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on LAMR. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Citigroup increased 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. Five 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 presently has a consensus rating of "Hold" and a consensus target price of $134.60.
Get Our Latest Analysis on Lamar Advertising
Lamar Advertising Price Performance
NASDAQ:LAMR traded down $4.42 during trading hours on Friday, hitting $105.03. The stock had a trading volume of 1,191,830 shares, compared to its average volume of 458,854. The company has a 50 day simple moving average of $120.86 and a two-hundred day simple moving average of $126.32. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 29.75 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. Lamar Advertising has a one year low of $102.95 and a one year high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.55 dividend. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date was Friday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is currently 175.64%.
Lamar Advertising Company 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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