Ameriprise Financial Inc. cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 883,989 shares of the real estate investment trust's stock after selling 18,747 shares during the quarter. Ameriprise Financial Inc. owned about 0.86% of Lamar Advertising worth $107,617,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Carmel Capital Partners LLC grew 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Lamar Advertising by 1.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust's stock valued at $867,000 after purchasing an additional 81 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Lamar Advertising by 0.4% in the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock valued at $2,442,000 after purchasing an additional 82 shares in the last quarter. Avior Wealth Management LLC lifted its position in 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 purchasing an additional 84 shares during the period. Finally, UMB Bank n.a. grew its position 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 acquiring an additional 90 shares during the period. 93.78% of the stock is owned by institutional investors.
Lamar Advertising Trading Down 0.4 %
Shares of NASDAQ:LAMR traded down $0.46 during mid-day trading on Friday, reaching $114.81. The stock had a trading volume of 936,623 shares, compared to its average volume of 505,770. The firm has a 50 day simple moving average of $112.96 and a two-hundred day simple moving average of $122.22. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The firm has a market cap of $11.76 billion, a PE ratio of 32.52 and a beta of 1.38. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.
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 company had revenue of $505.43 million for the quarter, compared to analysts' expectations of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, research analysts predict that Lamar Advertising will post 7.92 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.40%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. Lamar Advertising's dividend payout ratio is presently 150.49%.
Analyst Upgrades and Downgrades
LAMR has been the subject of a number of research reports. Morgan Stanley lowered their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. 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. Finally, Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $132.60.
Read Our Latest Stock 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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