Aegis Wealth Management LLC acquired a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,709 shares of the real estate investment trust's stock, valued at approximately $330,000.
Other hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Lamar Advertising by 2.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust's stock valued at $1,108,000 after purchasing an additional 215 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Lamar Advertising by 6.5% during 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 acquiring an additional 90,933 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Lamar Advertising by 6.3% during the fourth quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust's stock worth $598,000 after acquiring an additional 292 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Lamar Advertising by 9.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust's stock worth $1,466,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Lamar Advertising during the fourth quarter worth about $3,557,000. 93.78% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LAMR has been the subject of a number of analyst reports. Morgan Stanley lowered their price objective 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. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $114.00 to $135.00 in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Lamar Advertising currently has an average rating of "Hold" and a consensus target price of $134.00.
Read Our Latest Research Report on LAMR
Lamar Advertising Stock Performance
Shares of NASDAQ:LAMR traded up $0.73 during midday trading on Friday, reaching $120.41. 878,191 shares of the company traded hands, compared to its average volume of 517,688. 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 12 month low of $99.84 and a 12 month high of $139.88. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 34.11 and a beta of 1.38. The firm's fifty day moving average price is $113.45 and its two-hundred day moving average price is $120.65.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping 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 return on equity of 30.20% and a net margin of 16.40%. On average, equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $1.55 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.15%. Lamar Advertising's dividend payout ratio is currently 150.49%.
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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