Massachusetts Financial Services Co. MA lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 867,829 shares of the real estate investment trust's stock after buying an additional 17,320 shares during the period. Massachusetts Financial Services Co. MA owned about 0.85% of Lamar Advertising worth $105,650,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of 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 last quarter. Daiwa Securities Group Inc. lifted its holdings in Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after purchasing an additional 470,805 shares during the last quarter. Norges Bank purchased a new position in Lamar Advertising in the 4th quarter valued at approximately $57,255,000. Raymond James Financial Inc. purchased a new stake in Lamar Advertising during the 4th quarter worth about $48,023,000. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of Lamar Advertising by 631.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust's stock valued at $24,088,000 after acquiring an additional 155,656 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Lamar Advertising Price Performance
Shares of NASDAQ:LAMR traded down $3.81 during trading on Thursday, hitting $109.88. 364,027 shares of the company's stock were exchanged, compared to its average volume of 472,277. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 31.06 and a beta of 1.34. The business's 50-day simple moving average is $118.93 and its 200 day simple moving average is $125.51. Lamar Advertising has a 52-week low of $99.84 and a 52-week 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.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, equities analysts predict that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's payout ratio is 175.64%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Citigroup upped their target price on 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. decreased their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Five 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 has an average rating of "Hold" and an average price target of $134.60.
Read Our Latest Stock Report on LAMR
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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