Proficio Capital Partners LLC bought a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,218 shares of the real estate investment trust's stock, valued at approximately $3,557,000.
A number of other hedge funds have also recently added to or reduced their stakes in LAMR. Wellington Management Group LLP lifted its holdings 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 acquiring an additional 617,356 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Lamar Advertising by 148.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust's stock worth $58,058,000 after purchasing an additional 259,979 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in Lamar Advertising by 631.7% in the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Lamar Advertising by 129.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,267 shares of the real estate investment trust's stock valued at $31,432,000 after buying an additional 132,734 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Lamar Advertising by 2.9% in the 3rd 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 buying an additional 119,068 shares in the last quarter. Institutional investors own 93.78% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on LAMR shares. Citigroup boosted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Lamar Advertising has a consensus rating of "Hold" and an average price target of $134.60.
View Our Latest Analysis on LAMR
Lamar Advertising Stock Performance
Shares of LAMR stock traded down $0.96 during trading hours on Friday, hitting $111.19. 1,203,909 shares of the company were exchanged, compared to its average volume of 435,538. 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 market capitalization of $11.39 billion, a price-to-earnings ratio of 31.50 and a beta of 1.53. Lamar Advertising has a 52-week low of $108.80 and a 52-week high of $139.88. The firm has a fifty day simple moving average of $123.35 and a 200 day simple moving average of $127.40.
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 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The firm had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Research analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.58%. 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.
See Also
Before you consider Lamar Advertising, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lamar Advertising wasn't on the list.
While Lamar Advertising currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
