Gotham Asset Management LLC Purchases 10,722 Shares of Lamar Advertising (NASDAQ:LAMR)

Gotham Asset Management LLC boosted its position in Lamar Advertising (NASDAQ:LAMR) by 16.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 77,240 shares of the real estate investment trust’s stock after purchasing an additional 10,722 shares during the period. Gotham Asset Management LLC’s holdings in Lamar Advertising were worth $9,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC boosted its stake in shares of Lamar Advertising by 11.0% in the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock valued at $672,890,000 after purchasing an additional 545,606 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock worth $323,900,000 after purchasing an additional 2,180,011 shares during the last quarter. Boston Partners lifted its stake in Lamar Advertising by 6.7% in 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 last quarter. Geode Capital Management LLC boosted its position in Lamar Advertising by 2.9% during 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 during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Lamar Advertising by 6.5% during 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. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Citigroup increased their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their target price on shares of Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $132.60.

Lamar Advertising Trading Up 3.3%

LAMR opened at $118.60 on Tuesday. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 33.60 and a beta of 1.38. Lamar Advertising has a one year low of $99.84 and a one year high of $139.88. The business has a 50 day simple moving average of $112.84 and a two-hundred day simple moving average of $122.02. 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, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. The company had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid 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 was Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.23%. Lamar Advertising’s payout ratio is presently 150.49%.

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.