K.J. Harrison & Partners Inc Makes New $908,000 Investment in Lamar Advertising (NASDAQ:LAMR)

K.J. Harrison & Partners Inc acquired a new stake in Lamar Advertising (NASDAQ:LAMR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,500 shares of the real estate investment trust’s stock, valued at approximately $908,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in Lamar Advertising by 2.9% in the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after acquiring an additional 119,068 shares during the last quarter. State Street Corp raised its holdings in shares of Lamar Advertising by 0.8% in the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after purchasing an additional 21,852 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 90,775 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Lamar Advertising by 45.5% during the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after purchasing an additional 617,356 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in 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 last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on LAMR. TD Cowen increased their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Morgan Stanley boosted 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 report on Monday, November 11th. Citigroup increased their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Lamar Advertising currently has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Stock Performance

Shares of LAMR opened at $122.59 on Thursday. The company’s 50 day simple moving average is $124.41 and its 200-day simple moving average is $127.71. Lamar Advertising has a 12-month low of $108.23 and a 12-month high of $139.88. The firm has a market cap of $12.55 billion, a PE ratio of 34.73 and a beta of 1.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

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

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.06%. Lamar Advertising’s dividend payout ratio is currently 175.64%.

Lamar Advertising Company 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.