Tocqueville Asset Management L.P. Raises Holdings in Lamar Advertising (NASDAQ:LAMR)

Tocqueville Asset Management L.P. raised its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,873 shares of the real estate investment trust's stock after purchasing an additional 6,252 shares during the period. Tocqueville Asset Management L.P.'s holdings in Lamar Advertising were worth $2,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LAMR. Assetmark Inc. grew its stake in Lamar Advertising by 109.3% in 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 last quarter. GSA Capital Partners LLP purchased a new stake in shares of Lamar Advertising during the third quarter worth about $443,000. KBC Group NV grew its stake in shares of Lamar Advertising by 10.0% during the third quarter. KBC Group NV now owns 2,268 shares of the real estate investment trust's stock worth $303,000 after acquiring an additional 206 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Lamar Advertising during the third quarter worth about $205,000. Finally, CIBC Asset Management Inc grew its stake in shares of Lamar Advertising by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock worth $341,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

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Wall Street Analysts Forecast Growth

LAMR has been the topic of a number of research analyst reports. Citigroup boosted their price target 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. 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $134.60.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock traded down $0.96 on Friday, reaching $111.19. 1,209,566 shares of the stock were exchanged, compared to its average volume of 435,355. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 31.50 and a beta of 1.53. The business has a 50 day moving average price of $123.20 and a two-hundred day moving average price of $127.30.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 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 firm had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current fiscal 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. The ex-dividend date is Friday, March 14th. 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 yield of 5.58%. Lamar Advertising's payout ratio 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.