Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,214 shares of the real estate investment trust's stock after acquiring an additional 36,023 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.13% of Lamar Advertising worth $15,731,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Carmel Capital Partners LLC increased its position in Lamar Advertising by 2.0% during the fourth quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock worth $494,000 after buying an additional 81 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Lamar Advertising by 0.4% in the 4th quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock worth $2,442,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC boosted its position 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 purchasing an additional 84 shares during the period. UMB Bank n.a. grew its holdings 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 purchasing an additional 90 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Lamar Advertising by 12.1% in the fourth quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 95 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Lamar Advertising Price Performance
Lamar Advertising stock traded down $0.11 during mid-day trading on Friday, hitting $112.12. 535,327 shares of the company were exchanged, compared to its average volume of 492,581. Lamar Advertising has a 1-year low of $99.84 and a 1-year high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The business has a fifty day moving average of $114.72 and a 200 day moving average of $123.69. The company has a market capitalization of $11.48 billion, a PE ratio of 31.76 and a beta of 1.34.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The firm had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. As a group, sell-side analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 5.53%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's payout ratio is currently 175.64%.
Wall Street Analysts Forecast Growth
LAMR has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $134.60.
Get Our Latest Stock Analysis on Lamar Advertising
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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