Vestcor Inc cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,761 shares of the real estate investment trust's stock after selling 10,655 shares during the quarter. Vestcor Inc's holdings in Lamar Advertising were worth $4,962,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in shares of Lamar Advertising by 2.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust's stock worth $1,108,000 after acquiring an additional 215 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after buying an additional 90,933 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Lamar Advertising by 19,961.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust's stock worth $14,741,000 after purchasing an additional 109,790 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Lamar Advertising by 39.8% in the third quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust's stock valued at $7,017,000 after buying an additional 14,672 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Lamar Advertising by 96.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust's stock valued at $13,026,000 after acquiring an additional 47,746 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on LAMR shares. JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Citigroup lifted their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lamar Advertising currently has an average rating of "Hold" and an average target price of $134.60.
Read Our Latest Analysis on LAMR
Lamar Advertising Stock Performance
Shares of NASDAQ LAMR traded up $0.90 during trading hours on Tuesday, hitting $114.47. 890,658 shares of the stock were exchanged, compared to its average volume of 429,260. The firm has a market capitalization of $11.72 billion, a P/E ratio of 32.43 and a beta of 1.53. Lamar Advertising has a one year low of $108.80 and a one 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 company's 50 day moving average is $123.73 and its 200 day moving average is $127.68.
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, beating 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 company had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. On average, research analysts expect that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.42%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising's dividend payout ratio is currently 175.64%.
Lamar Advertising Company 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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