Wellington Management Group LLP reduced its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,821,507 shares of the real estate investment trust's stock after selling 153,341 shares during the period. Wellington Management Group LLP owned 1.78% of Lamar Advertising worth $221,750,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of Lamar Advertising by 108.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after buying an additional 470,805 shares during the period. Norges Bank acquired a new stake in Lamar Advertising in the fourth quarter valued at approximately $57,255,000. Raymond James Financial Inc. bought a new stake in shares of Lamar Advertising during the fourth quarter valued at approximately $48,023,000. Duff & Phelps Investment Management Co. raised its position in shares of Lamar Advertising by 631.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust's stock worth $24,088,000 after purchasing an additional 155,656 shares during the period. Finally, Boston Partners lifted its holdings in shares of Lamar Advertising by 6.7% in the 4th quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock worth $295,122,000 after purchasing an additional 152,575 shares in the last quarter. 93.78% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on LAMR. Citigroup boosted their price target 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. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $134.60.
Check Out Our Latest Research Report on LAMR
Lamar Advertising Stock Performance
Shares of NASDAQ LAMR traded down $0.15 during midday trading on Monday, reaching $104.88. The company's stock had a trading volume of 1,692,196 shares, compared to its average volume of 463,767. The stock has a market capitalization of $10.74 billion, a P/E ratio of 29.71 and a beta of 1.34. 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 50 day moving average price of $120.40 and a 200-day moving average price of $126.13. Lamar Advertising has a 12-month low of $100.00 and a 12-month high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.74. The business had revenue of $579.57 million for the quarter, compared to analysts' expectations 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 earnings per share for the current year.
Lamar Advertising Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.91%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is presently 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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