Ibex Wealth Advisors cut its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,143 shares of the real estate investment trust's stock after selling 2,337 shares during the quarter. Ibex Wealth Advisors' holdings in Lamar Advertising were worth $5,364,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in LAMR. Cohen & Steers Inc. grew its holdings 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 last quarter. FMR LLC grew 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 buying an additional 545,606 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after buying an additional 470,805 shares during the last quarter. Norges Bank purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at $57,255,000. Finally, Northern Trust Corp grew its holdings 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 last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Stock Performance
Shares of LAMR traded down $2.19 during trading hours on Friday, hitting $119.26. The stock had a trading volume of 358,545 shares, compared to its average volume of 520,686. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average price of $115.21 and a 200 day moving average price of $120.28. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 33.78 and a beta of 1.35.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $505.43 million during the quarter, compared to analysts' expectations of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. As a group, research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Announces Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 5.20%. Lamar Advertising's dividend payout ratio is presently 150.49%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on LAMR shares. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, Morgan Stanley lowered their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $134.00.
Check Out Our Latest Analysis on LAMR
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.
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