The Manufacturers Life Insurance Company lowered its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,418 shares of the real estate investment trust's stock after selling 5,375 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Lamar Advertising worth $9,303,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC bought a new position in Lamar Advertising during the fourth quarter valued at approximately $25,000. Bessemer Group Inc. increased its position in 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 purchasing an additional 143 shares during the last quarter. Blue Trust Inc. raised its stake in Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc raised its stake in Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC lifted 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 valued at $71,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 93.78% of the company's stock.
Lamar Advertising Trading Down 0.4 %
Shares of LAMR traded down $0.46 during trading hours on Friday, reaching $114.81. 936,623 shares of the company traded hands, compared to its average volume of 505,024. The stock's fifty day moving average price is $112.96 and its 200 day moving average price is $122.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 32.52 and a beta of 1.38. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 5.40%. Lamar Advertising's payout ratio is 175.64%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Citigroup raised 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. Finally, 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 research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $132.60.
Read Our Latest Analysis 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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