Prudential PLC Purchases 5,418 Shares of Lamar Advertising (NASDAQ:LAMR)

Prudential PLC boosted its position in Lamar Advertising (NASDAQ:LAMR) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,389 shares of the real estate investment trust’s stock after purchasing an additional 5,418 shares during the period. Prudential PLC’s holdings in Lamar Advertising were worth $5,282,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Lamar Advertising by 2.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust’s stock worth $1,108,000 after buying an additional 215 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after acquiring an additional 90,933 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Lamar Advertising by 19,961.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock valued at $14,741,000 after acquiring an additional 109,790 shares during the period. Franklin Resources Inc. raised its holdings in Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock worth $7,017,000 after purchasing an additional 14,672 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Lamar Advertising by 6.3% during the fourth quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 292 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $105.03 on Friday. The stock has a 50-day moving average price of $120.86 and a 200 day moving average price of $126.35. The stock has a market capitalization of $10.75 billion, a P/E ratio of 29.75 and a beta of 1.53. Lamar Advertising has a 12-month low of $102.95 and a 12-month high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

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

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.90%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is presently 175.64%.

Analyst Ratings Changes

LAMR has been the subject of a number of analyst reports. Citigroup upped their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note 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. According to data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising 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.