JPMorgan Chase & Co. Sells 130,299 Shares of Lamar Advertising (NASDAQ:LAMR)

JPMorgan Chase & Co. reduced its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 8.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,367,403 shares of the real estate investment trust’s stock after selling 130,299 shares during the period. JPMorgan Chase & Co. owned about 1.34% of Lamar Advertising worth $166,468,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in Lamar Advertising by 2.9% during the third 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 lifted its holdings in Lamar Advertising by 0.8% during the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after purchasing an additional 21,852 shares during the last quarter. Boston Partners boosted its position in Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock worth $295,122,000 after purchasing an additional 152,575 shares during the period. Geode Capital Management LLC increased its stake 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 purchasing an additional 90,775 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after buying an additional 617,356 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

LAMR has been the topic of several research analyst reports. 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 report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note 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. According to MarketBeat, Lamar Advertising has a consensus rating of “Hold” and an average target price of $134.60.

Lamar Advertising Price Performance

LAMR stock opened at $113.36 on Wednesday. The firm has a 50-day moving average of $121.86 and a 200 day moving average of $126.75. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $11.61 billion, a P/E ratio of 32.11 and a beta of 1.53. Lamar Advertising has a 1 year low of $108.80 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, sell-side analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.55 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Friday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is 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.