Royal Bank of Canada cut its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,237 shares of the real estate investment trust's stock after selling 5,993 shares during the period. Royal Bank of Canada owned about 0.14% of Lamar Advertising worth $16,828,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of LAMR. Carmel Capital Partners LLC raised its stake in shares of Lamar Advertising by 2.0% in the fourth quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock worth $494,000 after buying an additional 81 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Lamar Advertising by 1.2% during the fourth 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 in the last quarter. Sanctuary Advisors LLC lifted its holdings in Lamar Advertising by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock valued at $2,442,000 after purchasing an additional 82 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 84 shares during the period. Finally, Harbour Investments Inc. boosted its position in shares of Lamar Advertising by 12.1% in the fourth quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 95 shares during the period. Institutional investors own 93.78% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their target price for the company from $114.00 to $135.00 in a research note on Thursday. Morgan Stanley lowered their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Lamar Advertising has an average rating of "Hold" and a consensus target price of $134.00.
Check Out Our Latest Stock Report on Lamar Advertising
Lamar Advertising Price Performance
LAMR traded up $0.96 during trading on Friday, hitting $120.64. 117,641 shares of the company traded hands, compared to its average volume of 513,724. 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 company has a market cap of $12.35 billion, a PE ratio of 34.20 and a beta of 1.38. The stock's 50-day simple moving average is $113.30 and its two-hundred day simple moving average is $120.81. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share 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 30.20% and a net margin of 16.40%. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 5.14%. Lamar Advertising's dividend payout ratio is currently 150.49%.
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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