Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 76.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,674 shares of the real estate investment trust's stock after acquiring an additional 51,511 shares during the period. Millennium Management LLC owned 0.12% of Lamar Advertising worth $14,447,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LAMR. Carmel Capital Partners LLC lifted its position in Lamar Advertising by 2.0% during the 4th 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 grew 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 buying an additional 81 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Lamar Advertising by 0.4% in the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock worth $2,442,000 after purchasing an additional 82 shares during the period. 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, UMB Bank n.a. boosted its position in shares of 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 worth $85,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Trading Down 0.5%

Shares of LAMR traded down $0.57 during trading on Wednesday, reaching $117.94. 34,978 shares of the company traded hands, compared to its average volume of 513,522. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a 50-day simple moving average of $113.02 and a 200-day simple moving average of $120.90. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The stock has a market cap of $12.08 billion, a PE ratio of 33.38 and a beta of 1.38.

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, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. On average, analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 5.26%. Lamar Advertising's dividend payout ratio (DPR) is currently 150.49%.

Analysts Set New Price Targets

Several equities analysts have commented on LAMR shares. Morgan Stanley lowered their price objective 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 Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $132.60.

Lamar Advertising Company 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.