Kayne Anderson Rudnick Investment Management LLC Has $15.73 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

Kayne Anderson Rudnick Investment Management LLC increased its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,214 shares of the real estate investment trust's stock after acquiring an additional 36,023 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.13% of Lamar Advertising worth $15,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cohen & Steers Inc. raised its position in Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after acquiring an additional 2,180,011 shares in the last quarter. FMR LLC grew its position in Lamar Advertising by 11.0% in the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock worth $672,890,000 after acquiring an additional 545,606 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Lamar Advertising by 108.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after acquiring an additional 470,805 shares in the last quarter. Norges Bank bought a new position in shares of Lamar Advertising in the fourth quarter worth about $57,255,000. Finally, Raymond James Financial Inc. bought a new position in Lamar Advertising during the fourth quarter worth $48,023,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 0.1 %

Lamar Advertising stock traded down $0.11 during midday trading on Friday, hitting $112.12. 535,327 shares of the stock were exchanged, compared to its average volume of 491,940. The company has a fifty day simple moving average of $115.14 and a two-hundred day simple moving average of $123.84. The stock has a market capitalization of $11.48 billion, a PE ratio of 31.76 and a beta of 1.34. Lamar Advertising has a 52 week low of $99.84 and a 52 week high of $139.88. 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 data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping 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. Equities research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.55 per share. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.53%. The ex-dividend date was Friday, March 14th. Lamar Advertising's dividend payout ratio is 175.64%.

Analyst Ratings Changes

A number of research firms have recently commented on LAMR. JPMorgan Chase & Co. reduced their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $134.60.

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.