Schroder Investment Management Group reduced its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,351 shares of the real estate investment trust's stock after selling 26,101 shares during the quarter. Schroder Investment Management Group owned about 0.22% of Lamar Advertising worth $26,744,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pictet Asset Management Holding SA boosted its holdings in Lamar Advertising by 9.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust's stock worth $1,466,000 after acquiring an additional 1,087 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Lamar Advertising by 5.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 115,970 shares of the real estate investment trust's stock worth $14,118,000 after purchasing an additional 5,630 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Lamar Advertising in the 4th quarter worth about $2,488,000. Norges Bank purchased a new stake in Lamar Advertising during the 4th quarter valued at about $57,255,000. Finally, Blair William & Co. IL increased its stake in Lamar Advertising by 9.8% during the 4th quarter. Blair William & Co. IL now owns 5,295 shares of the real estate investment trust's stock valued at $645,000 after purchasing an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on LAMR shares. JPMorgan Chase & Co. cut their price target 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. Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $134.60.
Read Our Latest Analysis on LAMR
Lamar Advertising Stock Performance
Shares of LAMR stock traded down $0.15 during trading hours on Monday, reaching $104.88. The company had a trading volume of 1,692,196 shares, compared to its average volume of 463,767. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The business has a fifty day moving average price of $120.40 and a 200-day moving average price of $126.13. Lamar Advertising has a one year low of $100.00 and a one year high of $139.88. The firm has a market cap of $10.74 billion, a PE ratio of 29.71 and a beta of 1.34.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its 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 the consensus estimate of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Sell-side analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The company also recently disclosed 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. This represents a $6.20 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Friday, March 14th. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is 175.64%.
Lamar Advertising Company Profile
(
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.
See Also
Before you consider Lamar Advertising, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lamar Advertising wasn't on the list.
While Lamar Advertising currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
