Zions Bancorporation N.A. lifted its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 19.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,375 shares of the real estate investment trust's stock after acquiring an additional 2,968 shares during the period. Zions Bancorporation N.A.'s holdings in Lamar Advertising were worth $2,237,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Lamar Advertising in the fourth quarter worth about $341,000. Twin City Private Wealth LLC increased its position in Lamar Advertising by 1.4% in the 4th quarter. Twin City Private Wealth LLC now owns 17,630 shares of the real estate investment trust's stock worth $2,146,000 after buying an additional 242 shares during the period. LPL Financial LLC lifted its holdings in shares of Lamar Advertising by 11.2% during the fourth quarter. LPL Financial LLC now owns 94,019 shares of the real estate investment trust's stock worth $11,446,000 after buying an additional 9,455 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Lamar Advertising during the fourth quarter worth approximately $2,569,000. Finally, Knights of Columbus Asset Advisors LLC boosted its position in shares of Lamar Advertising by 6.5% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 61,873 shares of the real estate investment trust's stock valued at $7,532,000 after acquiring an additional 3,769 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Lamar Advertising Stock Performance
Lamar Advertising stock traded down $0.09 on Friday, hitting $112.46. The company's stock had a trading volume of 391,482 shares, compared to its average volume of 449,018. Lamar Advertising has a one year low of $108.80 and a one year high of $139.88. The firm has a market cap of $11.52 billion, a P/E ratio of 31.86 and a beta of 1.53. 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 company has a fifty day moving average price of $122.38 and a 200-day moving average price of $126.95.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, equities analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current 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 paid a $1.55 dividend. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.51%. Lamar Advertising's payout ratio is currently 175.64%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on LAMR shares. Citigroup upped their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $134.60.
View 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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