Van Cleef Asset Management Inc Increases Holdings in Lamar Advertising (NASDAQ:LAMR)

Van Cleef Asset Management Inc boosted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 209,395 shares of the real estate investment trust’s stock after buying an additional 380 shares during the period. Lamar Advertising accounts for about 2.8% of Van Cleef Asset Management Inc’s holdings, making the stock its 7th largest position. Van Cleef Asset Management Inc’s holdings in Lamar Advertising were worth $25,492,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LAMR. Blue Trust Inc. lifted its position in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares during the last quarter. Brooklyn Investment Group acquired a new position in Lamar Advertising during the third quarter worth about $25,000. Assetmark Inc. lifted its holdings in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of Lamar Advertising by 16.8% during the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Down 0.4 %

NASDAQ:LAMR opened at $122.16 on Friday. Lamar Advertising has a one year low of $108.23 and a one year high of $139.88. The company’s 50-day simple moving average is $124.42 and its 200 day simple moving average is $127.63. The firm has a market capitalization of $12.50 billion, a P/E ratio of 34.61 and a beta of 1.51. 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 (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. As a group, analysts forecast that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.55 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.08%. Lamar Advertising’s dividend payout ratio (DPR) is presently 175.64%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company reduced their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Citigroup boosted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $134.60.

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.