Legal & General Group Plc lessened its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 209,346 shares of the real estate investment trust's stock after selling 13,271 shares during the period. Legal & General Group Plc owned 0.20% of Lamar Advertising worth $25,486,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its position in Lamar Advertising by 110.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 4,345 shares of the real estate investment trust's stock valued at $580,000 after purchasing an additional 2,283 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Lamar Advertising by 4.7% during the third quarter. Public Employees Retirement System of Ohio now owns 38,503 shares of the real estate investment trust's stock valued at $5,144,000 after acquiring an additional 1,732 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lamar Advertising by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust's stock worth $274,595,000 after acquiring an additional 90,775 shares during the period. Sanctuary Advisors LLC lifted its stake in Lamar Advertising by 23.2% in the third quarter. Sanctuary Advisors LLC now owns 19,177 shares of the real estate investment trust's stock worth $2,500,000 after acquiring an additional 3,609 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Lamar Advertising in the third quarter valued at $323,000. Hedge funds and other institutional investors own 93.78% of the company's stock.
Lamar Advertising Stock Up 1.8 %
Shares of LAMR stock traded up $1.96 during trading hours on Friday, hitting $108.99. 608,723 shares of the company's stock traded hands, compared to its average volume of 486,771. 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 stock's fifty day simple moving average is $116.94 and its two-hundred day simple moving average is $124.59. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 30.88 and a beta of 1.34.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. On average, analysts expect that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The firm also recently declared 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 is an increase from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's dividend payout ratio is presently 175.64%.
Analyst Ratings Changes
Several equities research analysts have recently commented on LAMR shares. JPMorgan Chase & Co. dropped their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Citigroup raised their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $134.60.
Check Out Our Latest Analysis on LAMR
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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