Lamar Advertising (NASDAQ:LAMR) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,035 shares of the real estate investment trust’s stock after purchasing an additional 248 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of Lamar Advertising worth $6,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new position in shares of Lamar Advertising in the 3rd quarter worth $43,665,000. JPMorgan Chase & Co. increased its stake in Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after acquiring an additional 90,933 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Lamar Advertising by 19,961.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after purchasing an additional 109,790 shares during the period. Franklin Resources Inc. lifted its stake in shares of Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after purchasing an additional 14,672 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Lamar Advertising by 96.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after purchasing an additional 47,746 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LAMR. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company cut their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen increased their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Trading Up 0.9 %

LAMR opened at $127.73 on Friday. The firm’s 50 day moving average is $125.37 and its 200-day moving average is $126.69. Lamar Advertising has a 52-week low of $102.10 and a 52-week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $13.07 billion, a P/E ratio of 25.55 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same period last year, the firm earned $2.04 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising’s payout ratio is 112.00%.

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.