Price T Rowe Associates Inc. MD Has $74.28 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

Price T Rowe Associates Inc. MD lowered its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,135 shares of the real estate investment trust's stock after selling 19,833 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.60% of Lamar Advertising worth $74,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LAMR. Carmel Capital Partners LLC increased its holdings in shares of Lamar Advertising by 2.0% in the 4th quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock valued at $494,000 after purchasing an additional 81 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Lamar Advertising by 1.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust's stock worth $867,000 after acquiring an additional 81 shares during the last quarter. Sanctuary Advisors LLC increased its position 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 raised its stake in shares of Lamar Advertising by 16.8% during the 4th 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 in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Lamar Advertising by 14.7% in the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Analysts Set New Price Targets

LAMR has been the subject of a number of analyst reports. Citigroup lifted 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. Morgan Stanley cut their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $132.60.

Lamar Advertising Stock Performance

Shares of LAMR stock traded up $0.19 during trading hours on Thursday, reaching $114.00. 951,027 shares of the company's stock were exchanged, compared to its average volume of 496,005. The business has a fifty day moving average price of $114.04 and a 200-day moving average price of $123.31. The stock has a market capitalization of $11.67 billion, a P/E ratio of 32.29 and a beta of 1.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Analysts predict that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.55 dividend. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is 175.64%.

Lamar Advertising Profile

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.