Asset Management One Co. Ltd. lifted its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 19.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 157,173 shares of the real estate investment trust's stock after purchasing an additional 25,259 shares during the quarter. Asset Management One Co. Ltd. owned 0.15% of Lamar Advertising worth $17,883,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Carmel Capital Partners LLC boosted its position in shares of Lamar Advertising by 2.0% in the 4th quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock valued at $494,000 after purchasing an additional 81 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Lamar Advertising by 1.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust's stock valued at $867,000 after purchasing an additional 81 shares during the period. Harbour Investments Inc. boosted its position in shares of Lamar Advertising by 12.1% in the 4th quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 95 shares during the period. Penobscot Investment Management Company Inc. boosted its position in shares of Lamar Advertising by 2.9% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 3,499 shares of the real estate investment trust's stock valued at $426,000 after purchasing an additional 100 shares during the period. Finally, First Manhattan CO. LLC. boosted its position in shares of Lamar Advertising by 0.3% in the 4th quarter. First Manhattan CO. LLC. now owns 28,765 shares of the real estate investment trust's stock valued at $3,502,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Down 0.3%
Shares of LAMR traded down $0.32 during midday trading on Friday, reaching $120.85. 2,250,915 shares of the stock were exchanged, compared to its average volume of 528,930. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The firm has a 50 day simple moving average of $117.64 and a 200-day simple moving average of $119.21. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89. The company has a market cap of $12.37 billion, a price-to-earnings ratio of 29.33 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 for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The company had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. Research analysts forecast that Lamar Advertising Company will post 7.92 EPS 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 paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Monday, June 16th. Lamar Advertising's payout ratio is 150.49%.
Analyst Upgrades and Downgrades
LAMR has been the subject of a number of research reports. Morgan Stanley decreased 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 raised their price objective for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and a consensus target price of $134.00.
View 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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