Duality Advisers LP purchased a new stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,454 shares of the real estate investment trust's stock, valued at approximately $1,217,000.
Other large investors also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Lamar Advertising by 43.4% in the third quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust's stock worth $141,352,000 after buying an additional 512,182 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Lamar Advertising by 2.8% in the third quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust's stock worth $120,336,000 after buying an additional 39,292 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Lamar Advertising by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,009,456 shares of the real estate investment trust's stock worth $84,259,000 after buying an additional 6,314 shares during the last quarter. Makaira Partners LLC raised its holdings in Lamar Advertising by 31.7% in the third quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust's stock worth $63,159,000 after buying an additional 182,111 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Lamar Advertising by 23.7% in the third quarter. HighTower Advisors LLC now owns 600,059 shares of the real estate investment trust's stock worth $50,128,000 after buying an additional 115,006 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares of the company's stock, valued at $1,189,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 14.98% of the company's stock.
Lamar Advertising Stock Performance
NASDAQ LAMR traded down $0.58 during trading hours on Wednesday, hitting $114.06. 222,800 shares of the company's stock traded hands, compared to its average volume of 405,995. The business's fifty day moving average price is $114.02 and its two-hundred day moving average price is $104.20. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $11.64 billion, a P/E ratio of 23.52 and a beta of 1.50. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $121.99.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced 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 business had revenue of $555.91 million for the quarter, compared to the consensus estimate of $549.84 million. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. During the same quarter last year, the firm posted $1.91 earnings per share. Equities research analysts predict that Lamar Advertising will post 7.54 EPS for the current year.
Lamar Advertising Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.30 dividend. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising's dividend payout ratio is presently 107.22%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on LAMR. Morgan Stanley lifted their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a "neutral" rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a "hold" rating to a "buy" rating in a research note on Tuesday, March 5th.
Read Our Latest Analysis on Lamar Advertising
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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