Focus Partners Wealth acquired a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,971 shares of the real estate investment trust's stock, valued at approximately $2,310,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rialto Wealth Management LLC purchased a new stake in Lamar Advertising in the fourth quarter valued at $25,000. Bessemer Group Inc. boosted its stake in shares of Lamar Advertising by 106.7% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after buying an additional 143 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after buying an additional 108 shares during the last quarter. Avior Wealth Management LLC grew its holdings 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 worth $71,000 after acquiring an additional 84 shares during the period. Finally, UMB Bank n.a. raised 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 acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on LAMR. JPMorgan Chase & Co. dropped 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 report on Friday, February 21st. Morgan Stanley dropped their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup lifted their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $132.60.
Check Out Our Latest Stock Report on Lamar Advertising
Lamar Advertising Stock Performance
Shares of Lamar Advertising stock opened at $116.87 on Friday. The business's 50 day moving average price is $112.46 and its 200 day moving average price is $121.83. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 33.11 and a beta of 1.38. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a one year low of $99.84 and a one year high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS 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 business had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. On average, research analysts predict that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Announces Dividend
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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.31%. Lamar Advertising's dividend payout ratio is currently 150.49%.
About Lamar Advertising
(
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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