Amundi Pioneer Asset Management Inc. grew its holdings in Lamar Advertising (NASDAQ:LAMR) by 26.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,169 shares of the real estate investment trust’s stock after acquiring an additional 8,727 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Lamar Advertising were worth $3,057,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. lifted its position in shares of Lamar Advertising by 69.4% in the fourth quarter. Alliancebernstein L.P. now owns 402,208 shares of the real estate investment trust’s stock valued at $29,860,000 after acquiring an additional 164,803 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lamar Advertising by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 778,606 shares of the real estate investment trust’s stock worth $57,803,000 after purchasing an additional 9,109 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Lamar Advertising in the fourth quarter worth about $15,697,000. Amalgamated Bank increased its holdings in shares of Lamar Advertising by 5.6% in the fourth quarter. Amalgamated Bank now owns 17,363 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 918 shares during the last quarter. Finally, Capital Analysts LLC increased its holdings in shares of Lamar Advertising by 6,166.4% in the fourth quarter. Capital Analysts LLC now owns 25,755 shares of the real estate investment trust’s stock worth $3,950,000 after purchasing an additional 25,344 shares during the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.
Shares of Lamar Advertising stock opened at $63.11 on Friday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.29 and a current ratio of 1.29. Lamar Advertising has a 52 week low of $62.45 and a 52 week high of $79.17. The firm has a market capitalization of $6,213.84, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 4.10 and a beta of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 19th will be paid a dividend of $0.91 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 5.77%. The ex-dividend date is Friday, March 16th. Lamar Advertising’s payout ratio is presently 113.04%.
Several equities research analysts have recently issued reports on the company. BidaskClub cut Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Friday. MKM Partners lifted their target price on Lamar Advertising from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, March 8th. Morgan Stanley lifted their target price on Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. ValuEngine cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $73.25.
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About Lamar Advertising
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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