Norges Bank purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 470,308 shares of the real estate investment trust's stock, valued at approximately $57,255,000. Norges Bank owned about 0.46% of Lamar Advertising as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of LAMR. Wellington Management Group LLP boosted its holdings in Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust's stock valued at $263,840,000 after purchasing an additional 617,356 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Lamar Advertising by 108.3% in the fourth 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. Raymond James Financial Inc. acquired a new stake in Lamar Advertising during the fourth quarter worth about $48,023,000. Duff & Phelps Investment Management Co. increased its stake in 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 valued at $24,088,000 after acquiring an additional 155,656 shares during the period. Finally, Boston Partners raised its holdings in 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 valued at $295,122,000 after acquiring an additional 152,575 shares in the last quarter. 93.78% of the stock is owned by institutional investors.
Lamar Advertising Trading Down 2.4 %
LAMR stock traded down $2.53 during midday trading on Tuesday, reaching $102.35. The company's stock had a trading volume of 1,223,450 shares, compared to its average volume of 467,652. The business's 50-day simple moving average is $119.45 and its 200-day simple moving average is $125.75. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market cap of $10.48 billion, a PE ratio of 28.99 and a beta of 1.34. Lamar Advertising has a 52 week low of $100.00 and a 52 week high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results 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. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. As a group, sell-side analysts expect that Lamar Advertising will post 7.92 EPS 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 paid a $1.55 dividend. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 6.06%. Lamar Advertising's dividend payout ratio (DPR) is currently 175.64%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Citigroup raised their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. 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 an average rating of "Hold" and an average target price of $134.60.
Check Out Our Latest Research Report on Lamar Advertising
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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