Voloridge Investment Management LLC trimmed its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 44.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,645 shares of the real estate investment trust's stock after selling 53,068 shares during the period. Voloridge Investment Management LLC owned 0.06% of Lamar Advertising worth $7,992,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in Lamar Advertising by 2.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust's stock valued at $1,108,000 after purchasing an additional 215 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock valued at $200,093,000 after buying an additional 90,933 shares during the period. Jones Financial Companies Lllp increased its holdings in Lamar Advertising by 6.3% in the 4th quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust's stock valued at $598,000 after buying an additional 292 shares during the period. Pictet Asset Management Holding SA grew its holdings in Lamar Advertising by 9.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust's stock worth $1,466,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of Lamar Advertising during the 4th quarter valued at $312,000. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Up 0.8%
LAMR stock traded up $0.99 during midday trading on Friday, reaching $120.67. 143,270 shares of the company were exchanged, compared to its average volume of 513,867. The stock's 50-day simple moving average is $113.30 and its 200 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. 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 company has a market cap of $12.36 billion, a price-to-earnings ratio of 34.15 and a beta of 1.38.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $509.72 million. On average, equities analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Dividend Announcement
The company also recently declared 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 5.14%. Lamar Advertising's dividend payout ratio is 150.49%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $114.00 to $135.00 in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Finally, Morgan Stanley cut 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 report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $134.00.
Read Our Latest Research Report on Lamar Advertising
Lamar Advertising 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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