Proficio Capital Partners LLC bought a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 29,218 shares of the real estate investment trust's stock, valued at approximately $3,557,000.
Several other institutional investors and hedge funds have also bought and sold shares of LAMR. Brooklyn Investment Group bought a new stake in Lamar Advertising during the third quarter worth about $25,000. Assetmark Inc. increased its position in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after buying an additional 117 shares during the last quarter. Blue Trust Inc. increased its position in Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after buying an additional 108 shares during the last quarter. Versant Capital Management Inc increased its position in Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock worth $55,000 after buying an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after buying an additional 84 shares during the last quarter. Institutional investors own 93.78% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on LAMR shares. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their price target on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. TD Cowen boosted their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, Citigroup upped their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report 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. According to data from MarketBeat, Lamar Advertising currently has an average rating of "Hold" and a consensus price target of $134.60.
Check Out Our Latest Report on LAMR
Lamar Advertising Stock Performance
Shares of Lamar Advertising stock traded up $2.02 on Friday, hitting $125.28. The stock had a trading volume of 430,267 shares, compared to its average volume of 418,425. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88. The business's 50 day moving average is $124.53 and its two-hundred day moving average is $127.87. 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 $12.83 billion, a price-to-earnings ratio of 35.49 and a beta of 1.53.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its 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. The company had revenue of $579.57 million for 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%. Analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 4.95%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is currently 175.64%.
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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