Summit Investment Advisors Inc. Has $4.08 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

Summit Investment Advisors Inc. lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,514 shares of the real estate investment trust’s stock after selling 416 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Lamar Advertising were worth $4,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings 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 buying an additional 545,606 shares in the last quarter. Boston Partners increased its holdings 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 purchasing an additional 152,575 shares during the period. Geode Capital Management LLC raised its position in shares of Lamar Advertising by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock valued at $257,414,000 after buying an additional 59,039 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Lamar Advertising by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after buying an additional 90,933 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Lamar Advertising by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,242 shares of the real estate investment trust’s stock worth $134,187,000 after buying an additional 9,146 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LAMR. JPMorgan Chase & Co. cut their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Citigroup raised their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $113.01 on Monday. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock’s 50-day simple moving average is $118.38 and its 200 day simple moving average is $125.15. The firm has a market capitalization of $11.57 billion, a PE ratio of 32.01 and a beta of 1.34.

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

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is presently 175.64%.

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.