Charles Schwab Investment Management Inc. raised its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,102,242 shares of the real estate investment trust's stock after acquiring an additional 9,146 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.08% of Lamar Advertising worth $134,187,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Lamar Advertising by 23.3% in the third quarter. Farther Finance Advisors LLC now owns 975 shares of the real estate investment trust's stock valued at $130,000 after purchasing an additional 184 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Lamar Advertising by 78.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,524 shares of the real estate investment trust's stock valued at $337,000 after buying an additional 1,111 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Lamar Advertising in the 3rd quarter worth $2,015,000. Easterly Investment Partners LLC purchased a new position in shares of Lamar Advertising during the 3rd quarter worth $12,240,000. Finally, Markel Group Inc. boosted its position in shares of Lamar Advertising by 18.1% during the 3rd quarter. Markel Group Inc. now owns 111,000 shares of the real estate investment trust's stock valued at $14,830,000 after acquiring an additional 17,000 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
LAMR has been the topic of a number of analyst reports. StockNews.com downgraded shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. Wells Fargo & Company reduced their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Citigroup increased their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Morgan Stanley raised their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Finally, TD Cowen upped their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $134.60.
View Our Latest Report on LAMR
Lamar Advertising Trading Down 4.6 %
Shares of LAMR stock traded down $5.64 on Tuesday, hitting $116.76. The stock had a trading volume of 814,544 shares, compared to its average volume of 420,790. The company's 50 day moving average price is $124.55 and its 200-day moving average price is $128.01. Lamar Advertising has a 1 year low of $108.80 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $11.96 billion, a P/E ratio of 33.08 and a beta of 1.53.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.55 dividend. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 5.31%. The ex-dividend date is Friday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is presently 175.64%.
Lamar Advertising 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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