Mackenzie Financial Corp lifted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 19.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,552 shares of the real estate investment trust's stock after purchasing an additional 21,073 shares during the period. Mackenzie Financial Corp owned approximately 0.13% of Lamar Advertising worth $14,854,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Lamar Advertising during the 1st quarter worth about $28,000. ST Germain D J Co. Inc. boosted its position in shares of Lamar Advertising by 346.0% in the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 218 shares during the period. Bessemer Group Inc. boosted its position in shares of Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 143 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Lamar Advertising in the first quarter worth $60,000. Finally, McIlrath & Eck LLC increased its position in Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock worth $86,000 after acquiring an additional 450 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Stock Performance
LAMR stock traded down $1.34 during midday trading on Friday, reaching $120.91. 868,676 shares of the company were exchanged, compared to its average volume of 380,252. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57. The business has a 50-day moving average price of $122.05 and a two-hundred day moving average price of $119.54. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 29.35 and a beta of 1.36.
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 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 37.62% and a net margin of 19.08%. Equities research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current year.
Lamar Advertising Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.55 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.1%. Lamar Advertising's payout ratio is 150.49%.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on LAMR. Citigroup raised shares of 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 report on Thursday, May 29th. Morgan Stanley decreased their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $134.00.
Check Out Our Latest Research Report on Lamar Advertising
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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