Caisse DE Depot ET Placement DU Quebec Purchases Shares of 26,700 Lamar Advertising (NASDAQ:LAMR)

Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,700 shares of the real estate investment trust's stock, valued at approximately $3,250,000.

A number of other hedge funds have also recently made changes to their positions in LAMR. Rialto Wealth Management LLC purchased a new position in shares of Lamar Advertising during the fourth quarter worth approximately $25,000. Bessemer Group Inc. lifted its holdings in shares of Lamar Advertising by 106.7% in the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after buying an additional 143 shares during the period. Blue Trust Inc. grew its position in shares of Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after buying an additional 108 shares in the last quarter. Versant Capital Management Inc raised its holdings 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 valued at $55,000 after acquiring an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in Lamar Advertising by 16.8% during the 4th 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 in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LAMR has been the topic of a number of recent research reports. Citigroup increased their price objective 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. Morgan Stanley reduced their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $132.60.

Lamar Advertising Stock Down 0.4 %

NASDAQ LAMR traded down $0.46 during trading on Friday, hitting $114.81. The company's stock had a trading volume of 936,623 shares, compared to its average volume of 505,770. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $11.76 billion, a PE ratio of 32.52 and a beta of 1.38. The business's 50 day simple moving average is $112.96 and its 200-day simple moving average is $122.22.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 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 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's payout ratio is presently 175.64%.

About Lamar Advertising

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.