Mariner LLC boosted its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,196 shares of the real estate investment trust's stock after acquiring an additional 3,516 shares during the period. Mariner LLC owned 0.06% of Lamar Advertising worth $7,572,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. FMR LLC boosted its position in shares of Lamar Advertising by 11.0% during the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock valued at $672,890,000 after buying an additional 545,606 shares during the last quarter. Cohen & Steers Inc. raised its holdings in shares of Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock valued at $323,900,000 after purchasing an additional 2,180,011 shares during the last quarter. Boston Partners lifted its position in shares of Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock valued at $295,122,000 after purchasing an additional 152,575 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lamar Advertising by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust's stock worth $257,414,000 after purchasing an additional 59,039 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Lamar Advertising by 6.5% in 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 purchasing an additional 90,933 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price 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. Citigroup boosted their target price 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. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $134.60.
View Our Latest Stock Report on LAMR
Lamar Advertising Trading Up 2.5 %
Shares of Lamar Advertising stock traded up $2.72 during trading on Thursday, reaching $113.47. The company's stock had a trading volume of 293,790 shares, compared to its average volume of 489,131. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 32.14 and a beta of 1.34. The firm's 50-day moving average is $115.49 and its two-hundred day moving average is $123.97. Lamar Advertising has a 52-week low of $99.84 and a 52-week high of $139.88. 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 (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data 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 during 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%. On average, sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $1.55 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.46%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is currently 175.64%.
Lamar Advertising 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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