Lamar Advertising (NASDAQ:LAMR) Shares Bought by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,101 shares of the real estate investment trust’s stock after purchasing an additional 215 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lamar Advertising were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LAMR. Janus Henderson Group PLC lifted its stake in shares of Lamar Advertising by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock valued at $567,632,000 after purchasing an additional 119,068 shares during the period. State Street Corp raised its position in shares of Lamar Advertising by 0.8% in the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock worth $352,752,000 after acquiring an additional 21,852 shares during the period. Geode Capital Management LLC raised its position in shares of Lamar Advertising by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock worth $274,595,000 after acquiring an additional 90,775 shares during the period. Wellington Management Group LLP raised its position in shares of Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after acquiring an additional 617,356 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after purchasing an additional 90,933 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LAMR shares. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup upped their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company reduced their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Stock Down 2.3 %

LAMR stock opened at $122.40 on Tuesday. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 34.67 and a beta of 1.53. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The firm has a 50-day moving average of $124.55 and a two-hundred day moving average of $128.01.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. As a group, analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $1.55 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.07%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is currently 175.64%.

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.