Lamar Advertising (NASDAQ:LAMR) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,042 shares of the real estate investment trust’s stock after buying an additional 1,087 shares during the period. Pictet Asset Management Holding SA’s holdings in Lamar Advertising were worth $1,466,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LAMR. Rialto Wealth Management LLC bought a new stake in shares of Lamar Advertising in the fourth quarter worth $25,000. Blue Trust Inc. grew its holdings in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 143 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of 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 worth $71,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $105.03 on Friday. 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 firm’s 50-day moving average price is $120.86 and its two-hundred day moving average price is $126.35. Lamar Advertising has a 52-week low of $102.95 and a 52-week high of $139.88. 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 (NASDAQ:LAMR) last announced its quarterly 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 business had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.55 per share. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.90%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is currently 175.64%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $134.60.

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.