Lamar Advertising (NASDAQ:LAMR) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 610,135 shares of the real estate investment trust’s stock after selling 19,833 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.60% of Lamar Advertising worth $74,278,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. FMR LLC grew its stake in shares of Lamar Advertising by 11.0% during the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock worth $672,890,000 after acquiring an additional 545,606 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of Lamar Advertising by 453.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock worth $323,900,000 after acquiring an additional 2,180,011 shares during the last quarter. Boston Partners grew its stake in shares of 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 acquiring an additional 152,575 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lamar Advertising by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock worth $257,414,000 after acquiring an additional 59,039 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of 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. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 1.5 %

Shares of NASDAQ:LAMR opened at $113.80 on Tuesday. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88. The company has a market capitalization of $11.65 billion, a PE ratio of 32.24 and a beta of 1.34. The business has a 50 day moving average of $114.36 and a two-hundred day moving average of $123.44. 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 (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. As a group, analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.55 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 5.45%. Lamar Advertising’s payout ratio is presently 175.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Citigroup lifted their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $134.60.

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.