Cornercap Investment Counsel Inc. Has $853,000 Holdings in Lamar Advertising (NASDAQ:LAMR)

Cornercap Investment Counsel Inc. lowered its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 46.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,381 shares of the real estate investment trust's stock after selling 5,512 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Lamar Advertising were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust's stock worth $1,517,554,000 after purchasing an additional 68,484 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Lamar Advertising by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust's stock worth $159,283,000 after purchasing an additional 75,955 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Lamar Advertising by 81.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust's stock valued at $112,052,000 after purchasing an additional 420,311 shares in the last quarter. Centersquare Investment Management LLC raised its position in Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust's stock valued at $72,031,000 after purchasing an additional 281,582 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Lamar Advertising by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust's stock worth $67,664,000 after buying an additional 22,382 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 0.6 %

Shares of LAMR stock traded down $0.80 during trading hours on Friday, reaching $126.35. 621,240 shares of the stock traded hands, compared to its average volume of 408,868. The business has a fifty day moving average price of $132.03 and a 200 day moving average price of $123.25. Lamar Advertising has a 1-year low of $95.83 and a 1-year high of $139.88. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $12.93 billion, a PE ratio of 25.26 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the prior year, the business posted $2.04 earnings per share. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.43%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising's dividend payout ratio is presently 112.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LAMR. Wells Fargo & Company decreased their price target on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday. TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday. StockNews.com cut shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $132.40.

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.