Nomura Holdings Inc. Acquires Shares of 21,218 Lamar Advertising (NASDAQ:LAMR)

Nomura Holdings Inc. purchased a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,218 shares of the real estate investment trust's stock, valued at approximately $2,583,000.

A number of other large investors have also made changes to their positions in the stock. Nuveen Asset Management LLC grew its position in shares of Lamar Advertising by 39.8% in the fourth quarter. Nuveen Asset Management LLC now owns 313,629 shares of the real estate investment trust's stock valued at $38,181,000 after purchasing an additional 89,236 shares in the last quarter. Millennium Management LLC grew its position in Lamar Advertising by 76.7% in the fourth quarter. Millennium Management LLC now owns 118,674 shares of the real estate investment trust's stock worth $14,447,000 after acquiring an additional 51,511 shares during the period. Lazard Asset Management LLC grew its position in Lamar Advertising by 94.9% in the fourth quarter. Lazard Asset Management LLC now owns 6,723 shares of the real estate investment trust's stock worth $818,000 after acquiring an additional 3,273 shares during the period. Gotham Asset Management LLC grew its position in Lamar Advertising by 16.1% in the fourth quarter. Gotham Asset Management LLC now owns 77,240 shares of the real estate investment trust's stock worth $9,403,000 after acquiring an additional 10,722 shares during the period. Finally, Focus Partners Wealth purchased a new position in Lamar Advertising in the fourth quarter worth approximately $2,310,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on LAMR shares. Citigroup increased their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Finally, Morgan Stanley lowered their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $132.60.

Lamar Advertising Trading Up 2.6%

LAMR opened at $119.87 on Friday. Lamar Advertising has a 52 week low of $99.84 and a 52 week high of $139.88. The business has a fifty day simple moving average of $112.52 and a 200-day simple moving average of $121.73. The firm has a market cap of $12.27 billion, a P/E ratio of 33.96 and a beta of 1.38. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. On average, equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising's payout ratio is currently 150.49%.

Lamar Advertising Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.