Prudential PLC Grows Position in Lamar Advertising (NASDAQ:LAMR)

Prudential PLC grew its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,389 shares of the real estate investment trust's stock after buying an additional 5,418 shares during the period. Prudential PLC's holdings in Lamar Advertising were worth $5,282,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Centersquare Investment Management LLC increased its position in shares of Lamar Advertising by 2.0% during the fourth quarter. Centersquare Investment Management LLC now owns 603,010 shares of the real estate investment trust's stock valued at $73,410,000 after buying an additional 11,635 shares during the period. ExodusPoint Capital Management LP boosted its position in Lamar Advertising by 180.7% during the 4th quarter. ExodusPoint Capital Management LP now owns 186,364 shares of the real estate investment trust's stock valued at $22,688,000 after acquiring an additional 119,968 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of Lamar Advertising by 5.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 3,660 shares of the real estate investment trust's stock worth $443,000 after acquiring an additional 198 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Lamar Advertising by 2.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 867,829 shares of the real estate investment trust's stock worth $105,650,000 after acquiring an additional 17,320 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Lamar Advertising in the 4th quarter valued at approximately $617,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LAMR shares. Citigroup upped their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Lamar Advertising has a consensus rating of "Hold" and a consensus target price of $134.60.

Lamar Advertising Stock Up 3.0 %

NASDAQ:LAMR traded up $3.33 during trading hours on Friday, reaching $113.01. 996,193 shares of the company traded hands, compared to its average volume of 478,968. 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 business's 50-day moving average price is $118.38 and its two-hundred day moving average price is $125.20. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88. The stock has a market capitalization of $11.57 billion, a P/E ratio of 32.01 and a beta of 1.34.

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 (EPS) for the quarter, topping 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 company had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. Analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.55 per share. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.49%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio (DPR) is 175.64%.

Lamar Advertising Company Profile

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.