Artisan Partners Limited Partnership Boosts Holdings in Lamar Advertising (NASDAQ:LAMR)

Artisan Partners Limited Partnership grew its position in Lamar Advertising (NASDAQ:LAMR) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 677,406 shares of the real estate investment trust’s stock after purchasing an additional 348 shares during the quarter. Artisan Partners Limited Partnership owned about 0.66% of Lamar Advertising worth $82,467,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Carmel Capital Partners LLC boosted its position in shares of Lamar Advertising by 2.0% in the 4th quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 81 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Lamar Advertising by 0.4% in the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust’s stock worth $2,442,000 after acquiring an additional 82 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 84 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Lamar Advertising by 14.7% during the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 90 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Lamar Advertising by 12.1% during the fourth quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 95 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 1.3 %

Lamar Advertising stock opened at $112.55 on Friday. The stock has a 50-day moving average price of $122.64 and a 200 day moving average price of $126.99. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 31.88 and a beta of 1.53. Lamar Advertising has a 52 week low of $108.80 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.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data 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. The business had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Sell-side analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.51%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is presently 175.64%.

Wall Street Analyst Weigh In

LAMR has been the subject of a number of recent analyst reports. Citigroup lifted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising 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.