Cetera Investment Advisers Grows Holdings in Lamar Advertising (NASDAQ:LAMR)

Cetera Investment Advisers raised its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 63,789 shares of the real estate investment trust's stock after acquiring an additional 2,210 shares during the period. Cetera Investment Advisers owned 0.06% of Lamar Advertising worth $7,766,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LAMR. FMR LLC increased its position in Lamar Advertising by 11.0% during the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock worth $672,890,000 after purchasing an additional 545,606 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Lamar Advertising by 453.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after buying an additional 2,180,011 shares in the last quarter. Boston Partners grew its position in shares of Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock worth $295,122,000 after buying an additional 152,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Lamar Advertising by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust's stock valued at $257,414,000 after buying an additional 59,039 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Lamar Advertising by 6.5% in the third 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 period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LAMR. JPMorgan Chase & Co. cut their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Citigroup lifted their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Finally, Morgan Stanley dropped their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $132.60.

Lamar Advertising Stock Up 3.3%

Shares of LAMR stock opened at $118.60 on Tuesday. The stock has a market cap of $12.14 billion, a P/E ratio of 33.60 and a beta of 1.38. Lamar Advertising has a one year low of $99.84 and a one year high of $139.88. The stock has a fifty day moving average price of $112.84 and a 200 day moving average price of $122.02. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data 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. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The company had revenue of $505.43 million during the quarter, compared to analysts' expectations of $509.72 million. Analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.55 per share. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.23%. The ex-dividend date was Friday, March 14th. Lamar Advertising's payout ratio is currently 150.49%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.