Russell Investments Group Ltd. lifted its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 71.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,298 shares of the real estate investment trust's stock after purchasing an additional 59,062 shares during the period. Russell Investments Group Ltd. owned 0.14% of Lamar Advertising worth $17,323,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners grew its stake in Lamar Advertising by 6.7% in the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock valued at $295,122,000 after acquiring an additional 152,575 shares during the period. Geode Capital Management LLC increased its stake in Lamar Advertising by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust's stock worth $257,414,000 after purchasing an additional 59,039 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after buying an additional 90,933 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Lamar Advertising by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,242 shares of the real estate investment trust's stock valued at $134,187,000 after buying an additional 9,146 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock worth $110,220,000 after acquiring an additional 470,805 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Performance
NASDAQ LAMR traded down $0.12 on Tuesday, hitting $111.05. 117,711 shares of the stock were exchanged, compared to its average volume of 480,436. The business's fifty day moving average is $118.08 and its 200 day moving average is $124.99. Lamar Advertising has a 52 week low of $99.84 and a 52 week high of $139.88. The company has a market capitalization of $11.37 billion, a PE ratio of 31.52 and a beta of 1.34. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million during the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The business 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 dividend on an annualized basis and a yield of 5.58%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is currently 175.64%.
Analyst Ratings Changes
A number of equities analysts have issued reports on LAMR shares. Citigroup increased their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $134.60.
Read Our Latest Report on Lamar Advertising
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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