US Bancorp DE Increases Holdings in Lamar Advertising (NASDAQ:LAMR)

US Bancorp DE grew its position in shares of Lamar Advertising (NASDAQ:LAMR) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,128 shares of the real estate investment trust’s stock after buying an additional 670 shares during the quarter. US Bancorp DE’s holdings in Lamar Advertising were worth $989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new stake in Lamar Advertising in the third quarter worth approximately $25,000. Assetmark Inc. lifted its holdings in shares of Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 117 shares during the period. Blue Trust Inc. boosted its stake in shares of Lamar Advertising by 58.4% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 108 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 143 shares during the period. Finally, Avior Wealth Management LLC increased its position in Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $125.28 on Monday. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88. 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 company’s 50-day moving average price is $124.53 and its 200-day moving average price is $127.99. The company has a market cap of $12.83 billion, a PE ratio of 35.49 and a beta of 1.53.

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, topping the consensus estimate 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 the consensus estimate of $583.19 million. On average, 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 will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.55 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.95%. Lamar Advertising’s dividend payout ratio is presently 175.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Citigroup increased their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their price target on 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, JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.