Hsbc Holdings PLC increased its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 19.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,988 shares of the real estate investment trust's stock after acquiring an additional 2,729 shares during the period. Hsbc Holdings PLC's holdings in Lamar Advertising were worth $2,055,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. raised its holdings in Lamar Advertising by 106.7% in the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 143 shares during the period. Blue Trust Inc. raised its holdings in Lamar Advertising by 58.4% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 108 shares during the period. Versant Capital Management Inc lifted its position in Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC boosted 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 valued at $71,000 after acquiring an additional 84 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
LAMR has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of 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 boosted 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $132.60.
View Our Latest Stock Report on Lamar Advertising
Lamar Advertising Price Performance
NASDAQ LAMR traded up $0.53 during trading on Monday, reaching $116.46. 235,586 shares of the company traded hands, compared to its average volume of 492,958. 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 stock's 50 day moving average price is $113.66 and its two-hundred day moving average price is $122.82. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 33.01 and a beta of 1.34.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. As a group, analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.32%. The ex-dividend date was Friday, March 14th. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio is presently 175.64%.
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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