Prudential Financial Inc. cut its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 65.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,869 shares of the real estate investment trust's stock after selling 15,048 shares during the period. Prudential Financial Inc.'s holdings in Lamar Advertising were worth $958,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LAMR. Rialto Wealth Management LLC purchased a new position in shares of Lamar Advertising in the fourth quarter worth $25,000. Blue Trust Inc. increased its holdings in Lamar Advertising by 58.4% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 108 shares during the last quarter. Versant Capital Management Inc lifted its stake 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 in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Lamar Advertising by 16.8% during the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Lamar Advertising by 14.7% during the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
LAMR has been the topic of a number of research analyst reports. Citigroup boosted 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. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $134.60.
Get Our Latest Report on Lamar Advertising
Lamar Advertising Trading Up 3.0 %
LAMR traded up $3.33 on Friday, hitting $113.01. The company had a trading volume of 996,193 shares, compared to its average volume of 478,968. The business's fifty day simple moving average is $118.38 and its 200 day simple moving average is $125.20. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88. The company has a market cap of $11.57 billion, a PE ratio of 32.01 and a beta of 1.34.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The firm 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%. Equities research analysts expect that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio (DPR) is 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.
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