Geode Capital Management LLC Has $257.41 Million Stake in Lamar Advertising (NASDAQ:LAMR)

Geode Capital Management LLC boosted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 2.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,114,001 shares of the real estate investment trust’s stock after buying an additional 59,039 shares during the quarter. Geode Capital Management LLC’s holdings in Lamar Advertising were worth $257,414,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Carmel Capital Partners LLC lifted its stake in shares of Lamar Advertising by 2.0% in the fourth quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust’s stock worth $494,000 after acquiring an additional 81 shares during the period. Sanctuary Advisors LLC raised its holdings in Lamar Advertising by 0.4% during the 4th quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust’s stock worth $2,442,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 84 shares during the period. UMB Bank n.a. boosted its stake in shares of Lamar Advertising by 14.7% in the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Lamar Advertising by 12.1% during the fourth quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 95 shares during the period. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Citigroup raised their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $105.03 on Friday. The business has a 50-day simple moving average of $120.86 and a 200 day simple moving average of $126.35. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 29.75 and a beta of 1.53. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a one year low of $102.95 and a one year high of $139.88.

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

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.55 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.90%. Lamar Advertising’s dividend payout ratio (DPR) is presently 175.64%.

Lamar Advertising Profile

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.