Zions Bancorporation N.A. Buys 2,968 Shares of Lamar Advertising (NASDAQ:LAMR)

Zions Bancorporation N.A. increased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 19.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,375 shares of the real estate investment trust’s stock after purchasing an additional 2,968 shares during the period. Zions Bancorporation N.A.’s holdings in Lamar Advertising were worth $2,237,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in Lamar Advertising by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after purchasing an additional 119,068 shares in the last quarter. State Street Corp boosted its stake in Lamar Advertising by 0.8% during the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after buying an additional 21,852 shares during the last quarter. Boston Partners grew its holdings in Lamar Advertising by 6.7% during the 4th quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock valued at $295,122,000 after buying an additional 152,575 shares in the last quarter. Geode Capital Management LLC increased its stake in Lamar Advertising by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock worth $274,595,000 after acquiring an additional 90,775 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Lamar Advertising by 45.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after acquiring an additional 617,356 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Down 0.1 %

Shares of LAMR opened at $112.79 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The business has a fifty day moving average of $122.93 and a 200 day moving average of $127.18. The company has a market cap of $11.55 billion, a PE ratio of 31.95 and a beta of 1.53. Lamar Advertising has a 52-week low of $108.80 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, sell-side analysts expect 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. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.50%. Lamar Advertising’s dividend payout ratio is currently 175.64%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut 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. Citigroup lifted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $134.60.

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.