Boston Partners Has $295.12 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

Boston Partners raised its stake in Lamar Advertising (NASDAQ:LAMR) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,423,981 shares of the real estate investment trust’s stock after purchasing an additional 152,575 shares during the period. Boston Partners owned approximately 2.37% of Lamar Advertising worth $295,122,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Lamar Advertising during the 3rd quarter valued at about $25,000. Rialto Wealth Management LLC bought a new position in Lamar Advertising in the fourth quarter valued at approximately $25,000. Assetmark Inc. lifted its stake in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 117 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 108 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 143 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LAMR. Citigroup boosted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and an average target price of $134.60.

Lamar Advertising Trading Up 1.8 %

Shares of LAMR opened at $113.57 on Tuesday. The business has a 50-day moving average of $123.73 and a 200 day moving average of $127.68. Lamar Advertising has a fifty-two week low of $108.80 and a fifty-two week high of $139.88. The firm has a market cap of $11.63 billion, a P/E ratio of 32.17 and a beta of 1.53. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56.

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

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, March 14th. 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 5.46%. Lamar Advertising’s payout ratio is 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.