Lazard Asset Management LLC Raises Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Lazard Asset Management LLC increased its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 94.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,723 shares of the real estate investment trust's stock after acquiring an additional 3,273 shares during the quarter. Lazard Asset Management LLC's holdings in Lamar Advertising were worth $818,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Carmel Capital Partners LLC boosted its position 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 valued at $494,000 after acquiring an additional 81 shares during the period. Tower Research Capital LLC TRC lifted its position 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 during the last quarter. Sanctuary Advisors LLC lifted its position 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 during the last quarter. Avior Wealth Management LLC lifted its position in Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Lamar Advertising by 14.7% during the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley dropped their target price 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. Citigroup lifted their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Lamar Advertising currently has a consensus rating of "Hold" and an average target price of $132.60.

Lamar Advertising Trading Up 0.6%

Lamar Advertising stock traded up $0.66 during mid-day trading on Friday, reaching $115.31. 496,837 shares of the company traded hands, compared to its average volume of 514,065. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm's 50 day moving average price is $112.88 and its 200 day moving average price is $121.18. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 32.67 and a beta of 1.38. Lamar Advertising has a 52-week low of $99.84 and a 52-week 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date is Monday, June 16th. Lamar Advertising's dividend payout ratio (DPR) is presently 150.49%.

Lamar Advertising Profile

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.