Daiwa Securities Group Inc. raised its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 108.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 905,368 shares of the real estate investment trust's stock after buying an additional 470,805 shares during the period. Daiwa Securities Group Inc. owned about 0.88% of Lamar Advertising worth $110,220,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Lamar Advertising during the 3rd quarter valued at $25,000. Rialto Wealth Management LLC purchased a new position in Lamar Advertising during the fourth quarter valued at $25,000. Assetmark Inc. grew its holdings in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 117 shares during the period. Blue Trust Inc. increased its position in Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after buying an additional 108 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock worth $55,000 after buying an additional 143 shares during the period. 93.78% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. TD Cowen boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Citigroup lifted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. 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, Lamar Advertising presently has an average rating of "Hold" and an average target price of $134.60.
Check Out Our Latest Stock Report on Lamar Advertising
Lamar Advertising Price Performance
LAMR traded down $4.58 during trading on Tuesday, hitting $117.82. 490,375 shares of the company traded hands, compared to its average volume of 419,708. 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 company has a market cap of $12.06 billion, a PE ratio of 33.34 and a beta of 1.53. The stock's 50-day simple moving average is $124.55 and its two-hundred day simple moving average is $128.01. Lamar Advertising has a 1 year low of $108.80 and a 1 year high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.55 per share. 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 dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising's dividend payout ratio is currently 175.64%.
About Lamar Advertising
(
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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