LPL Financial LLC raised its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 11.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 94,019 shares of the real estate investment trust's stock after buying an additional 9,455 shares during the quarter. LPL Financial LLC owned approximately 0.09% of Lamar Advertising worth $11,446,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its stake in Lamar Advertising by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust's stock valued at $1,108,000 after acquiring an additional 215 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock valued at $200,093,000 after purchasing an additional 90,933 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of 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 valued at $14,741,000 after purchasing an additional 109,790 shares in the last quarter. Franklin Resources Inc. lifted its holdings in 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 worth $7,017,000 after purchasing an additional 14,672 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Lamar Advertising by 6.3% in the 4th quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust's stock valued at $598,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Analysts Set New Price Targets
LAMR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Citigroup boosted their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. 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 presently has an average rating of "Hold" and a consensus target price of $134.60.
View Our Latest Report on LAMR
Lamar Advertising Trading Down 2.4 %
Shares of Lamar Advertising stock traded down $2.53 on Tuesday, reaching $102.35. 1,223,450 shares of the company were exchanged, compared to its average volume of 467,652. Lamar Advertising has a fifty-two week low of $100.00 and a fifty-two week high of $139.88. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 28.99 and a beta of 1.34. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a fifty day moving average price of $119.45 and a 200-day moving average price of $125.75.
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 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.74. The company had revenue of $579.57 million during 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%. On average, analysts expect that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $1.55 per share. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's payout ratio is 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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