Renaissance Technologies LLC Grows Position in Lamar Advertising (NASDAQ:LAMR)

Renaissance Technologies LLC grew its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 270.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,312 shares of the real estate investment trust's stock after buying an additional 38,912 shares during the quarter. Renaissance Technologies LLC owned 0.05% of Lamar Advertising worth $6,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at $25,000. Blue Trust Inc. lifted 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 valued at $39,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc boosted its holdings in Lamar Advertising by 46.6% in the fourth 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 during the last quarter. Avior Wealth Management LLC grew its position in Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 84 shares during the period. Finally, UMB Bank n.a. raised its stake in 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 buying an additional 90 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR traded up $2.18 during midday trading on Thursday, reaching $112.93. The stock had a trading volume of 160,653 shares, compared to its average volume of 488,672. 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 12-month low of $99.84 and a 12-month high of $139.88. The stock has a 50-day moving average of $115.49 and a 200-day moving average of $123.97. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 31.96 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 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $583.19 million. As a group, research analysts anticipate 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.49%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. Lamar Advertising's payout ratio is presently 175.64%.

Wall Street Analyst Weigh In

Several analysts recently commented on LAMR shares. JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. 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 report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising presently has a consensus rating of "Hold" and a consensus price target of $134.60.

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.