Gotham Asset Management LLC grew its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,240 shares of the real estate investment trust's stock after purchasing an additional 10,722 shares during the quarter. Gotham Asset Management LLC owned approximately 0.08% of Lamar Advertising worth $9,403,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in LAMR. Rialto Wealth Management LLC purchased a new stake in Lamar Advertising during the fourth quarter worth $25,000. Bessemer Group Inc. boosted its position 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 period. Blue Trust Inc. boosted its position 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 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 buying an additional 84 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Performance
Shares of Lamar Advertising stock traded up $3.00 on Friday, reaching $119.87. 811,504 shares of the company were exchanged, compared to its average volume of 510,717. 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's 50-day moving average is $112.46 and its two-hundred day moving average is $121.83. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 33.96 and a beta of 1.38. Lamar Advertising has a 1-year low of $99.84 and a 1-year high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced 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. The business had revenue of $505.43 million for the quarter, compared to analysts' expectations of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, research analysts expect that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising's payout ratio is 150.49%.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Morgan Stanley cut their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup upped their price objective 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $132.60.
Read Our Latest Report on LAMR
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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