By otakuyassine3@gmail.com 
US Bancorp DE grew its stake in Lamar Advertising (NASDAQ:LAMR – Free Report) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,128 shares of the real estate investment trust’s stock after acquiring an additional 670 shares during the quarter. US Bancorp DE’s holdings in Lamar Advertising were worth $989,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Lamar Advertising in the third quarter worth $25,000. Assetmark Inc. boosted its position in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Blue Trust Inc. grew its stake in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 108 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake 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 buying an additional 84 shares during the period. 93.78% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on LAMR. Wells Fargo & Company reduced their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Cowen boosted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $134.60.
View Our Latest Stock Analysis on LAMR
Lamar Advertising Trading Up 1.6 %
Shares of LAMR opened at $125.28 on Monday. The firm has a 50-day moving average price of $124.53 and a 200 day moving average price of $127.99. Lamar Advertising has a 12-month low of $108.80 and a 12-month high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $12.83 billion, a P/E ratio of 35.49 and a beta of 1.53.
Lamar Advertising (NASDAQ:LAMR – Get Free Report) last announced its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Sell-side analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.
Lamar Advertising Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.55 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising’s payout ratio is currently 175.64%.
About Lamar Advertising
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.
See Also
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