Tributary Capital Management LLC raised its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 46.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,692 shares of the real estate investment trust's stock after buying an additional 3,086 shares during the quarter. Tributary Capital Management LLC's holdings in Lamar Advertising were worth $1,180,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in Lamar Advertising by 40.0% during the second quarter. Hsbc Holdings PLC now owns 14,808 shares of the real estate investment trust's stock worth $1,758,000 after acquiring an additional 4,233 shares in the last quarter. Sei Investments Co. boosted its position in shares of Lamar Advertising by 27.8% during the 2nd quarter. Sei Investments Co. now owns 20,549 shares of the real estate investment trust's stock worth $2,456,000 after purchasing an additional 4,464 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Lamar Advertising by 8.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,335 shares of the real estate investment trust's stock valued at $399,000 after buying an additional 256 shares during the period. Fred Alger Management LLC grew its stake in shares of Lamar Advertising by 4.6% in the 2nd quarter. Fred Alger Management LLC now owns 29,430 shares of the real estate investment trust's stock valued at $3,518,000 after buying an additional 1,299 shares during the period. Finally, JCP Investment Management LLC increased its position in Lamar Advertising by 51.0% in the 2nd quarter. JCP Investment Management LLC now owns 74,000 shares of the real estate investment trust's stock valued at $8,845,000 after buying an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Morgan Stanley raised their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $132.40.
Check Out Our Latest Stock Analysis on LAMR
Lamar Advertising Stock Performance
Shares of Lamar Advertising stock traded up $1.71 during mid-day trading on Friday, hitting $128.10. 492,385 shares of the stock were exchanged, compared to its average volume of 394,989. Lamar Advertising has a 12 month low of $102.10 and a 12 month high of $139.88. The company has a 50-day simple moving average of $126.16 and a 200 day simple moving average of $126.27. The company has a market capitalization of $13.11 billion, a P/E ratio of 25.62 and a beta of 1.50. 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 (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 earnings per share. Sell-side analysts anticipate that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising's dividend payout ratio is 112.00%.
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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