MetLife Investment Management LLC Acquires 4,032 Shares of Lamar Advertising (NASDAQ:LAMR)

MetLife Investment Management LLC increased its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,105 shares of the real estate investment trust's stock after purchasing an additional 4,032 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Lamar Advertising worth $6,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Lamar Advertising during the 3rd quarter valued at about $323,000. Franklin Resources Inc. raised its holdings in shares of Lamar Advertising by 39.8% during 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 purchasing an additional 14,672 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Lamar Advertising during the third quarter valued at approximately $3,216,000. JPMorgan Chase & Co. boosted its holdings in Lamar Advertising by 6.5% in the third 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 during the last quarter. Finally, Versant Capital Management Inc grew its position in Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 143 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $110.48 on Wednesday. The stock has a market cap of $11.31 billion, a P/E ratio of 31.30 and a beta of 1.34. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The stock's fifty day moving average is $115.88 and its 200 day moving average is $124.06. Lamar Advertising has a one year low of $99.84 and a one year 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, beating analysts' consensus estimates of $1.47 by $0.74. The firm 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%. 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.55 dividend. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date was Friday, March 14th. Lamar Advertising's dividend payout ratio is presently 175.64%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LAMR. JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Citigroup raised their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $134.60.

About Lamar Advertising

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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