Lamar Advertising (NASDAQ:LAMR) Stake Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 52,035 shares of the real estate investment trust’s stock after acquiring an additional 248 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lamar Advertising were worth $6,334,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its stake in shares of Lamar Advertising by 2.9% in the 3rd 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 in the last quarter. State Street Corp raised its stake 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 buying an additional 21,852 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Lamar Advertising by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock worth $274,595,000 after buying an additional 90,775 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Lamar Advertising by 45.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after buying an additional 617,356 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Lamar Advertising by 6.5% in the 3rd 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 in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LAMR has been the topic of several research reports. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company dropped 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 report on Monday, November 11th. TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $127.73 on Friday. Lamar Advertising has a 1-year low of $102.10 and a 1-year high of $139.88. The firm has a market capitalization of $13.07 billion, a PE ratio of 25.55 and a beta of 1.51. 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 business’s fifty day moving average price is $125.37 and its two-hundred day moving average price is $126.69.

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

Lamar Advertising Dividend Announcement

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

About Lamar Advertising

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.