Wells Fargo & Company MN lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 842,839 shares of the real estate investment trust's stock after selling 12,097 shares during the period. Wells Fargo & Company MN owned 0.82% of Lamar Advertising worth $102,607,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LAMR. State Street Corp increased its stake in shares of Lamar Advertising by 0.8% in the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock valued at $352,752,000 after buying an additional 21,852 shares during the period. Boston Partners boosted its holdings 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 last quarter. Geode Capital Management LLC increased its position in Lamar Advertising by 2.9% in the fourth 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 during the period. 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 purchasing an additional 90,933 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Lamar Advertising by 0.8% during the 4th 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 purchasing an additional 9,146 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Lamar Advertising Trading Up 3.0 %
NASDAQ LAMR traded up $3.33 during trading on Friday, reaching $113.01. 996,193 shares of the stock traded hands, compared to its average volume of 479,809. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 32.01 and a beta of 1.34. The stock's 50-day moving average price is $118.38 and its 200 day moving average price is $125.15.
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 earnings per share (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 company had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Analysts predict 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. Shareholders of record on Friday, March 14th were issued a $1.55 dividend. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, March 14th. Lamar Advertising's dividend payout ratio is 175.64%.
Analysts Set New Price Targets
LAMR has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. 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. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $134.60.
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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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