Beacon Financial Group cut its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,065 shares of the real estate investment trust's stock after selling 3,992 shares during the period. Beacon Financial Group owned approximately 0.05% of Lamar Advertising worth $6,038,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in LAMR. Cohen & Steers Inc. grew its position in Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after buying an additional 2,180,011 shares during the last quarter. FMR LLC lifted its holdings 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 purchasing an additional 545,606 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Lamar Advertising by 108.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after purchasing an additional 470,805 shares during the period. Norges Bank acquired a new position in shares of Lamar Advertising in the 4th quarter valued at $57,255,000. Finally, Northern Trust Corp increased its stake in Lamar Advertising by 50.5% in 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 purchasing an additional 428,744 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Down 1.0%
NASDAQ:LAMR traded down $1.20 on Thursday, hitting $120.10. 411,364 shares of the company's stock traded hands, compared to its average volume of 519,183. The company has a market cap of $12.30 billion, a PE ratio of 34.02 and a beta of 1.38. Lamar Advertising has a 1 year low of $99.84 and a 1 year 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 firm has a 50-day moving average price of $113.93 and a 200-day moving average price of $120.62.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Equities analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Dividend Announcement
The company 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.16%. Lamar Advertising's payout ratio is 150.49%.
Analyst Ratings Changes
Several research analysts have commented on LAMR shares. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Morgan Stanley reduced their price target on shares of 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. Finally, Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and lifted 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. According to data from MarketBeat.com, Lamar Advertising presently has a consensus rating of "Hold" and a consensus target price of $134.00.
Check Out Our Latest Report on Lamar Advertising
Lamar Advertising 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.
See Also
Before you consider Lamar Advertising, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lamar Advertising wasn't on the list.
While Lamar Advertising currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
