Sone Capital Management LLC acquired a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,726 shares of the real estate investment trust's stock, valued at approximately $2,645,000.
Several other large investors have also made changes to their positions in LAMR. Rialto Wealth Management LLC purchased a new position in shares of Lamar Advertising in the fourth quarter valued at about $25,000. Bessemer Group Inc. lifted its position in shares of Lamar Advertising by 106.7% in the fourth 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 in the last quarter. Blue Trust Inc. lifted 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 buying an additional 108 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after buying an additional 84 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after buying an additional 90 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Trading Up 0.6%
NASDAQ LAMR traded up $0.66 during trading hours on Friday, hitting $115.31. 496,837 shares of the company were exchanged, compared to its average volume of 514,065. The stock has a 50-day moving average price of $112.88 and a 200 day moving average price of $121.18. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 52 week low of $99.84 and a 52 week high of $139.88. The stock has a market cap of $11.81 billion, a PE ratio of 32.67 and a beta of 1.38.
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 for the quarter, topping the consensus estimate of $1.54 by $0.06. The company had revenue of $505.43 million for the quarter, compared to analysts' expectations of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.55 per share. The ex-dividend date is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.38%. Lamar Advertising's dividend payout ratio is 150.49%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on LAMR. Citigroup boosted their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Morgan Stanley decreased their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their target price 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $132.60.
View Our Latest Analysis on Lamar Advertising
Lamar Advertising Company 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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