DAVENPORT & Co LLC Sells 30,709 Shares of Lamar Advertising (NASDAQ:LAMR)

DAVENPORT & Co LLC trimmed its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,453,357 shares of the real estate investment trust's stock after selling 30,709 shares during the quarter. Lamar Advertising makes up 1.0% of DAVENPORT & Co LLC's holdings, making the stock its 15th biggest holding. DAVENPORT & Co LLC owned about 1.42% of Lamar Advertising worth $176,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Lamar Advertising in the third quarter worth about $25,000. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising in the third quarter worth about $26,000. Assetmark Inc. grew its stake in shares of Lamar Advertising by 109.3% during the third 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 last quarter. Finally, Versant Capital Management Inc grew its stake in 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 purchasing an additional 143 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Price Performance

Shares of LAMR traded up $1.50 during mid-day trading on Wednesday, reaching $126.60. The company had a trading volume of 104,026 shares, compared to its average volume of 428,264. The company's 50 day simple moving average is $125.65 and its 200 day simple moving average is $126.69. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 1-year low of $102.10 and a 1-year high of $139.88. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 25.32 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $564.10 million for the quarter, compared to analysts' expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. Lamar Advertising's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.04 earnings per share. Analysts expect that Lamar Advertising will post 7.49 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.42%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising's dividend payout ratio is presently 112.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com cut Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. TD Cowen increased their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.