JPMorgan Chase & Co. grew its position in Lamar Advertising (NASDAQ:LAMR – Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,497,702 shares of the real estate investment trust’s stock after buying an additional 90,933 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.46% of Lamar Advertising worth $200,093,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its position in 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 purchasing an additional 151 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Lamar Advertising during the third quarter valued at $25,000. Concord Wealth Partners acquired a new position in Lamar Advertising during the third quarter valued at $26,000. Assetmark Inc. lifted its stake in Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Lamar Advertising during the 2nd quarter worth about $45,000. 93.78% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Stock Performance
Shares of LAMR opened at $121.37 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12 month low of $100.15 and a 12 month high of $139.88. The company’s fifty day moving average is $129.83 and its 200-day moving average is $125.65. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 24.27 and a beta of 1.50.
Lamar Advertising Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio is 112.00%.
Analyst Ratings Changes
A number of analysts have recently issued reports on LAMR shares. TD Cowen increased their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered 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 report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and an average target price of $132.40.
Get Our Latest Stock Analysis on LAMR
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.
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