Miller Howard Investments Inc. NY reduced its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 322,424 shares of the real estate investment trust's stock after selling 4,434 shares during the period. Miller Howard Investments Inc. NY owned about 0.31% of Lamar Advertising worth $39,252,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in Lamar Advertising by 2.9% in the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock valued at $567,632,000 after purchasing an additional 119,068 shares during the period. State Street Corp boosted its position in Lamar Advertising by 0.8% during the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock worth $352,752,000 after acquiring an additional 21,852 shares during the last quarter. Geode Capital Management LLC grew its holdings in Lamar Advertising by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust's stock valued at $274,595,000 after buying an additional 90,775 shares during the period. Wellington Management Group LLP raised its stake in Lamar Advertising by 45.5% during the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust's stock worth $263,840,000 after purchasing an additional 617,356 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 90,933 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. TD Cowen lifted their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Wells Fargo & Company decreased their target price on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, Morgan Stanley boosted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and an average price target of $132.40.
Get Our Latest Research Report on LAMR
Lamar Advertising Stock Performance
Shares of LAMR traded down $1.83 during midday trading on Wednesday, reaching $124.92. The stock had a trading volume of 617,068 shares, compared to its average volume of 425,610. Lamar Advertising has a one year low of $102.10 and a one year high of $139.88. 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 firm has a market cap of $12.79 billion, a PE ratio of 24.98 and a beta of 1.51. The firm has a 50 day simple moving average of $125.02 and a 200-day simple moving average of $126.95.
Lamar Advertising Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.48%. Lamar Advertising's dividend payout ratio (DPR) is currently 112.00%.
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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