Lamar Advertising (NASDAQ:LAMR) Position Reduced by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its stake in Lamar Advertising (NASDAQ:LAMR) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,647 shares of the real estate investment trust’s stock after selling 186 shares during the period. Securian Asset Management Inc.’s holdings in Lamar Advertising were worth $809,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of LAMR. Wellington Management Group LLP increased its holdings in shares of Lamar Advertising by 45.5% in the third 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. Daiwa Securities Group Inc. grew its position in Lamar Advertising by 108.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust’s stock worth $110,220,000 after purchasing an additional 470,805 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Lamar Advertising during the 4th quarter worth approximately $48,023,000. Duff & Phelps Investment Management Co. grew its position in Lamar Advertising by 631.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust’s stock worth $24,088,000 after purchasing an additional 155,656 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Lamar Advertising by 129.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,267 shares of the real estate investment trust’s stock worth $31,432,000 after purchasing an additional 132,734 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.8 %

Lamar Advertising stock opened at $111.54 on Friday. The company’s fifty day simple moving average is $123.89 and its 200-day simple moving average is $127.72. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The stock has a market cap of $11.42 billion, a P/E ratio of 31.60 and a beta of 1.53.

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

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued 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 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Friday, March 14th. Lamar Advertising’s payout ratio is currently 175.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LAMR shares. JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Citigroup lifted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and an average target price of $134.60.

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.