International Assets Investment Management LLC acquired a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 58,241 shares of the real estate investment trust's stock, valued at approximately $6,190,000. International Assets Investment Management LLC owned approximately 0.06% of Lamar Advertising as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of Michigan Retirement System increased its holdings in Lamar Advertising by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust's stock worth $2,236,000 after purchasing an additional 100 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Lamar Advertising by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust's stock worth $801,000 after buying an additional 112 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Lamar Advertising by 2.8% in the 1st quarter. EP Wealth Advisors LLC now owns 4,129 shares of the real estate investment trust's stock worth $480,000 after buying an additional 112 shares during the last quarter. Continuum Advisory LLC boosted its stake in shares of Lamar Advertising by 2.5% in the 1st quarter. Continuum Advisory LLC now owns 4,606 shares of the real estate investment trust's stock worth $460,000 after buying an additional 113 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of Lamar Advertising by 1.5% in the 4th quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust's stock worth $842,000 after buying an additional 116 shares during the last quarter. 93.78% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
LAMR has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th. JPMorgan Chase & Co. upped their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a "neutral" rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded Lamar Advertising from a "hold" rating to a "buy" rating in a research note on Tuesday, March 5th.
Check Out Our Latest Stock Report on Lamar Advertising
Insiders Place Their Bets
In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 14.98% of the company's stock.
Lamar Advertising Stock Performance
Lamar Advertising stock traded down $0.47 during trading on Monday, hitting $111.20. The stock had a trading volume of 315,150 shares, compared to its average volume of 417,258. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $121.99. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. The stock's 50 day moving average is $113.05 and its two-hundred day moving average is $102.79. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 22.93 and a beta of 1.50.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.49). The company had revenue of $555.91 million for the quarter, compared to analysts' expectations of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same quarter in the prior year, the company earned $1.91 EPS. As a group, analysts predict that Lamar Advertising will post 7.54 EPS for the current year.
Lamar Advertising Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.68%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.25. Lamar Advertising's dividend payout ratio is currently 107.22%.
Lamar Advertising Company 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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