Asset Management One Co. Ltd. Acquires 25,259 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Asset Management One Co. Ltd. increased its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 19.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,173 shares of the real estate investment trust’s stock after buying an additional 25,259 shares during the period. Asset Management One Co. Ltd.’s holdings in Lamar Advertising were worth $17,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. FMR LLC raised its stake in Lamar Advertising by 11.0% in the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust’s stock worth $672,890,000 after buying an additional 545,606 shares in the last quarter. Cohen & Steers Inc. raised 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 buying an additional 2,180,011 shares in the last quarter. Boston Partners raised 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 buying an additional 152,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Lamar Advertising by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust’s stock worth $257,414,000 after buying an additional 59,039 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Lamar Advertising by 50.5% in the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust’s stock worth $155,632,000 after buying an additional 428,744 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley reduced their price target on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $134.00.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $119.26 on Thursday. The business’s fifty day simple moving average is $117.16 and its 200-day simple moving average is $119.48. The company has a market cap of $12.21 billion, a PE ratio of 28.95 and a beta of 1.34. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. Analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) 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.