QRG Capital Management Inc. Has $2.31 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

QRG Capital Management Inc. grew its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 25.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,948 shares of the real estate investment trust's stock after acquiring an additional 3,864 shares during the period. QRG Capital Management Inc.'s holdings in Lamar Advertising were worth $2,307,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in Lamar Advertising by 2.9% during the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock worth $567,632,000 after purchasing an additional 119,068 shares during the period. State Street Corp grew its holdings in Lamar Advertising by 0.8% during the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock worth $352,752,000 after purchasing an additional 21,852 shares during the period. Geode Capital Management LLC grew its holdings in Lamar Advertising by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust's stock worth $274,595,000 after purchasing an additional 90,775 shares during the period. Wellington Management Group LLP grew 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 purchasing an additional 617,356 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after purchasing an additional 90,933 shares during the period. Institutional investors own 93.78% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have issued reports on LAMR. TD Cowen raised their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Citigroup raised their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Morgan Stanley raised their price objective on shares of 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 shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut 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 report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $134.60.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR traded down $2.75 during midday trading on Thursday, reaching $121.76. The company's stock had a trading volume of 171,217 shares, compared to its average volume of 420,759. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a fifty-two week low of $108.80 and a fifty-two week high of $139.88. The business's 50 day moving average price is $124.46 and its two-hundred day moving average price is $127.86. The company has a market cap of $12.47 billion, a P/E ratio of 34.49 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released 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 company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. On average, analysts forecast that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.55 per share. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising's payout ratio is currently 175.64%.

Lamar Advertising 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.