Raymond James Financial Inc. acquired a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 394,471 shares of the real estate investment trust's stock, valued at approximately $48,023,000. Raymond James Financial Inc. owned about 0.39% of Lamar Advertising at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Carmel Capital Partners LLC raised its stake 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 during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Lamar Advertising by 0.4% during the 4th 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 during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Lamar Advertising by 16.8% during 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. UMB Bank n.a. boosted its stake in shares of Lamar Advertising by 14.7% during the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 90 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Lamar Advertising by 12.1% in the 4th quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust's stock worth $107,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Performance
Shares of LAMR stock traded up $1.96 during trading hours on Friday, reaching $108.99. The stock had a trading volume of 608,723 shares, compared to its average volume of 488,534. The firm has a 50-day simple moving average of $116.58 and a 200-day simple moving average of $124.33. The firm has a market capitalization of $11.16 billion, a PE ratio of 30.88 and a beta of 1.34. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly 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. The company had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, equities analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current 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 issued a dividend of $1.55 per share. The ex-dividend date was Friday, March 14th. This is a positive change 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%. Lamar Advertising's payout ratio is presently 175.64%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on LAMR. JPMorgan Chase & Co. dropped their price target 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 boosted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $134.60.
Read Our Latest Analysis on LAMR
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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