Resona Asset Management Co. Ltd. bought a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 34,991 shares of the real estate investment trust's stock, valued at approximately $4,266,000.
Several other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in Lamar Advertising by 0.8% during the 3rd 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 in the last quarter. Boston Partners boosted its position in Lamar Advertising by 6.7% during the 4th quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock worth $295,122,000 after acquiring an additional 152,575 shares during the period. Geode Capital Management LLC increased its holdings in shares of Lamar Advertising by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust's stock valued at $257,414,000 after purchasing an additional 59,039 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock valued at $200,093,000 after purchasing an additional 90,933 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Lamar Advertising by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,242 shares of the real estate investment trust's stock worth $134,187,000 after purchasing an additional 9,146 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Stock Performance
Shares of NASDAQ LAMR traded down $0.11 during trading hours on Monday, hitting $112.90. 68,735 shares of the stock were exchanged, compared to its average volume of 478,234. Lamar Advertising has a one year low of $99.84 and a one year high of $139.88. The company's 50 day moving average is $118.38 and its 200 day moving average is $125.15. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $11.56 billion, a P/E ratio of 31.98 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 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. On average, research analysts expect that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.49%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's payout ratio is currently 175.64%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on LAMR. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Citigroup boosted their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note 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's stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and an average price target of $134.60.
Read Our Latest Report on LAMR
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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