Victory Capital Management Inc. reduced its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,429,076 shares of the real estate investment trust's stock after selling 20,980 shares during the period. Victory Capital Management Inc. owned about 3.35% of Lamar Advertising worth $417,456,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of LAMR. Brooklyn Investment Group bought a new position in shares of Lamar Advertising in the third quarter worth approximately $25,000. Assetmark Inc. boosted its position in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 117 shares during the period. Blue Trust Inc. boosted its position in shares of Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc boosted its position in shares of 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 period. Finally, Avior Wealth Management LLC boosted its position in shares of Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 84 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on LAMR shares. Morgan Stanley upped their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. dropped 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 report on Friday, February 21st. StockNews.com lowered shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Citigroup upped their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Finally, TD Cowen upped their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and a consensus price target of $134.60.
Check Out Our Latest Stock Report on Lamar Advertising
Lamar Advertising Price Performance
LAMR stock traded up $2.02 during trading on Friday, hitting $125.28. 430,267 shares of the company's stock traded hands, compared to its average volume of 418,425. Lamar Advertising has a 52 week low of $108.80 and a 52 week high of $139.88. 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 simple moving average of $124.53 and a 200 day simple moving average of $127.87. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 35.49 and a beta of 1.53.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data 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 net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. As a group, research analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 4.95%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio (DPR) is 175.64%.
Lamar Advertising 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.
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