Merit Financial Group LLC purchased a new position in Lamar Advertising (NASDAQ:LAMR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,872 shares of the real estate investment trust's stock, valued at approximately $554,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cohen & Steers Inc. raised its holdings in shares of Lamar Advertising by 453.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after acquiring an additional 2,180,011 shares in the last quarter. FMR LLC raised its holdings in shares of 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 acquiring an additional 545,606 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Lamar Advertising by 108.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock worth $110,220,000 after acquiring an additional 470,805 shares in the last quarter. Norges Bank purchased a new stake in shares of Lamar Advertising during the 4th quarter worth approximately $57,255,000. Finally, Northern Trust Corp raised its holdings in shares of Lamar Advertising by 50.5% during the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after acquiring an additional 428,744 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.
Lamar Advertising Stock Down 1.8%
Shares of LAMR traded down $2.19 during midday trading on Friday, reaching $119.26. 358,545 shares of the stock were exchanged, compared to its average volume of 520,686. Lamar Advertising has a 52 week low of $99.84 and a 52 week high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The company's 50 day moving average is $115.21 and its two-hundred day moving average is $120.28. The company has a market capitalization of $12.21 billion, a P/E ratio of 33.78 and a beta of 1.35.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping 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 business had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. On average, sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising's payout ratio is currently 150.49%.
Analyst Ratings Changes
Several research firms recently weighed in on LAMR. JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Morgan Stanley decreased their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $134.00.
Check Out Our Latest Research Report on LAMR
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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