Lamar Advertising (NASDAQ:LAMR) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 7.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,821,507 shares of the real estate investment trust’s stock after selling 153,341 shares during the quarter. Wellington Management Group LLP owned about 1.78% of Lamar Advertising worth $221,750,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LAMR. State Street Corp grew 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 worth $352,752,000 after buying an additional 21,852 shares during the period. Boston Partners boosted its position 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 worth $295,122,000 after purchasing an additional 152,575 shares during the period. Geode Capital Management LLC boosted its position in Lamar Advertising by 4.6% during 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 purchasing an additional 90,775 shares during the period. JPMorgan Chase & Co. raised its position in Lamar Advertising by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Lamar Advertising by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,242 shares of the real estate investment trust’s stock worth $134,187,000 after purchasing an additional 9,146 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $115.94 on Thursday. Lamar Advertising has a 52 week low of $108.80 and a 52 week 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. The stock has a market cap of $11.87 billion, a P/E ratio of 32.84 and a beta of 1.53. The stock has a 50 day moving average of $121.66 and a 200-day moving average of $126.68.

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 for the quarter, topping the consensus estimate of $1.47 by $0.74. The company 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, analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.35%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is presently 175.64%.

Analyst Ratings Changes

Several equities research analysts recently commented on LAMR shares. JPMorgan Chase & Co. dropped their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock 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 company a “neutral” rating in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock 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.