Knights of Columbus Asset Advisors LLC Boosts Holdings in Lamar Advertising (NASDAQ:LAMR)

Knights of Columbus Asset Advisors LLC boosted its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,873 shares of the real estate investment trust's stock after acquiring an additional 3,769 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.06% of Lamar Advertising worth $7,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LAMR. Janus Henderson Group PLC boosted its stake in shares of Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock valued at $567,632,000 after buying an additional 119,068 shares during the period. State Street Corp increased its stake in shares of Lamar Advertising by 0.8% in the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock worth $352,752,000 after purchasing an additional 21,852 shares during the period. Boston Partners increased its position in Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock worth $295,122,000 after acquiring an additional 152,575 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lamar Advertising by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust's stock valued at $274,595,000 after buying an additional 90,775 shares during the period. Finally, Wellington Management Group LLP lifted its position in Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust's stock worth $263,840,000 after purchasing an additional 617,356 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LAMR. Citigroup upped their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $134.60.

Lamar Advertising Price Performance

Lamar Advertising stock traded up $1.19 during mid-day trading on Wednesday, reaching $113.98. The company had a trading volume of 500,011 shares, compared to its average volume of 439,148. The company has a market cap of $11.67 billion, a P/E ratio of 32.29 and a beta of 1.53. Lamar Advertising has a fifty-two week low of $108.80 and a fifty-two week high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The business has a fifty day simple moving average of $122.93 and a 200 day simple moving average of $127.18.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. On average, equities research analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.44%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is presently 175.64%.

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.