Mackenzie Financial Corp Increases Position in Lamar Advertising (NASDAQ:LAMR)

Mackenzie Financial Corp raised its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 31.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,479 shares of the real estate investment trust's stock after buying an additional 26,103 shares during the period. Mackenzie Financial Corp owned about 0.11% of Lamar Advertising worth $13,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in shares of Lamar Advertising by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust's stock worth $1,108,000 after acquiring an additional 215 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after purchasing an additional 90,933 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Lamar Advertising by 6.3% during the fourth quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust's stock worth $598,000 after purchasing an additional 292 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Lamar Advertising by 9.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust's stock worth $1,466,000 after purchasing an additional 1,087 shares in the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in shares of Lamar Advertising in the 4th quarter valued at about $312,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

NASDAQ:LAMR traded up $1.45 during trading hours on Thursday, hitting $119.68. The company's stock had a trading volume of 453,832 shares, compared to its average volume of 515,458. Lamar Advertising has a 52-week low of $99.84 and a 52-week high of $139.88. 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 business's 50-day moving average is $113.16 and its two-hundred day moving average is $120.88. The company has a market capitalization of $12.25 billion, a PE ratio of 33.90 and a beta of 1.38.

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 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The firm had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. As a group, research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

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 paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, June 16th. Lamar Advertising's payout ratio is currently 150.49%.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Morgan Stanley decreased their price objective on 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 Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price target for the stock from $114.00 to $135.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising has an average rating of "Hold" and an average target price of $134.00.

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.