21,100 Shares in Lamar Advertising (NASDAQ:LAMR) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,100 shares of the real estate investment trust's stock, valued at approximately $2,569,000.

Several other hedge funds also recently modified their holdings of the company. Carmel Capital Partners LLC boosted its stake in shares of Lamar Advertising by 2.0% during 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 purchasing an additional 81 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Lamar Advertising by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock worth $2,442,000 after purchasing an additional 82 shares during the period. Avior Wealth Management LLC grew its stake in shares of Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 84 shares during the last quarter. UMB Bank n.a. increased its holdings 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 purchasing an additional 90 shares during the period. Finally, Harbour Investments Inc. raised its position in Lamar Advertising by 12.1% during the 4th 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 last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on LAMR. Citigroup boosted their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $134.60.

Lamar Advertising Stock Down 0.1 %

Shares of LAMR traded down $0.09 during trading hours on Friday, hitting $112.46. The stock had a trading volume of 391,482 shares, compared to its average volume of 449,018. Lamar Advertising has a 1-year low of $108.80 and a 1-year high of $139.88. The firm has a market capitalization of $11.52 billion, a P/E ratio of 31.86 and a beta of 1.53. The firm has a 50 day simple moving average of $122.38 and a 200-day simple moving average of $126.96. 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 announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Sell-side analysts predict that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.55 per share. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.51%. Lamar Advertising's dividend payout ratio is presently 175.64%.

Lamar Advertising 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.