Nuveen Asset Management LLC Boosts Stock Position in Lamar Advertising (NASDAQ:LAMR)

Nuveen Asset Management LLC increased its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 39.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 313,629 shares of the real estate investment trust's stock after purchasing an additional 89,236 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.31% of Lamar Advertising worth $38,181,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after buying an additional 90,933 shares in the last quarter. Park Avenue Securities LLC increased its position in Lamar Advertising by 16.1% during the 4th quarter. Park Avenue Securities LLC now owns 3,495 shares of the real estate investment trust's stock valued at $425,000 after purchasing an additional 484 shares during the period. HB Wealth Management LLC bought a new stake in shares of Lamar Advertising in the 4th quarter valued at about $414,000. UMB Bank n.a. lifted its position in shares of Lamar Advertising by 14.7% in the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 90 shares during the period. Finally, Segment Wealth Management LLC lifted its position in shares of Lamar Advertising by 4.8% in the 4th quarter. Segment Wealth Management LLC now owns 3,043 shares of the real estate investment trust's stock worth $370,000 after purchasing an additional 140 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on LAMR shares. Morgan Stanley cut their price objective on shares of Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Finally, Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $132.60.

Lamar Advertising Stock Up 0.6%

Shares of LAMR stock traded up $0.66 during trading hours on Monday, reaching $115.31. 496,837 shares of the company's stock were exchanged, compared to its average volume of 514,982. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The stock's 50 day moving average is $112.88 and its 200-day moving average is $121.01. 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 $11.81 billion, a price-to-earnings ratio of 32.67 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results 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 return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 5.38%. Lamar Advertising's dividend payout ratio (DPR) is currently 150.49%.

About Lamar Advertising

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.