Asset Management One Co. Ltd. increased its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,173 shares of the real estate investment trust's stock after acquiring an additional 25,259 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Lamar Advertising worth $17,883,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Lamar Advertising by 11.0% during the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock valued at $672,890,000 after buying an additional 545,606 shares during the period. Cohen & Steers Inc. boosted 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 valued at $323,900,000 after buying an additional 2,180,011 shares during the period. Boston Partners boosted 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 valued at $295,122,000 after buying an additional 152,575 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 during the period. Finally, Northern Trust Corp boosted its position in shares of Lamar Advertising by 50.5% during the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock valued at $155,632,000 after buying an additional 428,744 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.
Lamar Advertising Stock Down 1.9%
Shares of NASDAQ LAMR opened at $119.26 on Thursday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 28.95 and a beta of 1.34. The stock has a 50 day moving average price of $117.16 and a 200 day moving average price of $119.48. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. Sell-side analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.
Lamar Advertising Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.55 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.20%. Lamar Advertising's payout ratio is 150.49%.
Analyst Ratings Changes
Several brokerages have issued reports on LAMR. Morgan Stanley dropped their target price 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 boosted their target price for the company 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $134.00.
Read Our Latest Analysis 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.
Further Reading
Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising Company (NASDAQ:LAMR - Free Report).
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