Alliancebernstein L.P. raised its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 69.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 402,208 shares of the real estate investment trust’s stock after purchasing an additional 164,803 shares during the quarter. Alliancebernstein L.P. owned approximately 0.41% of Lamar Advertising worth $29,860,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC increased its position in Lamar Advertising by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 778,606 shares of the real estate investment trust’s stock valued at $57,803,000 after purchasing an additional 9,109 shares during the period. Allianz Asset Management GmbH purchased a new position in Lamar Advertising during the 4th quarter valued at $15,697,000. Amalgamated Bank increased its position in Lamar Advertising by 5.6% during the 4th quarter. Amalgamated Bank now owns 17,363 shares of the real estate investment trust’s stock valued at $1,289,000 after purchasing an additional 918 shares during the period. Capital Analysts LLC increased its position in Lamar Advertising by 6,166.4% during the 4th quarter. Capital Analysts LLC now owns 25,755 shares of the real estate investment trust’s stock valued at $3,950,000 after purchasing an additional 25,344 shares during the period. Finally, State of Tennessee Treasury Department increased its position in Lamar Advertising by 20.0% during the 4th quarter. State of Tennessee Treasury Department now owns 60,000 shares of the real estate investment trust’s stock valued at $4,454,000 after purchasing an additional 10,000 shares during the period. 84.45% of the stock is currently owned by institutional investors and hedge funds.
LAMR has been the topic of a number of recent research reports. Citigroup downgraded shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price on the stock. in a research report on Wednesday, December 20th. BidaskClub downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Morgan Stanley upped their target price on shares of Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Zacks Investment Research downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Lamar Advertising currently has a consensus rating of “Hold” and a consensus price target of $73.25.
Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.37). The business had revenue of $398.50 million during the quarter, compared to analysts’ expectations of $395.71 million. Lamar Advertising had a return on equity of 29.41% and a net margin of 20.61%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. research analysts anticipate that Lamar Advertising will post 5.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 19th will be paid a $0.91 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, March 16th. This represents a $3.64 dividend on an annualized basis and a yield of 5.57%. Lamar Advertising’s payout ratio is presently 103.11%.
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Lamar Advertising Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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