Empowered Funds LLC Increases Position in Lamar Advertising (NASDAQ:LAMR)

Empowered Funds LLC raised its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 85.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,155 shares of the real estate investment trust's stock after purchasing an additional 14,390 shares during the quarter. Empowered Funds LLC's holdings in Lamar Advertising were worth $3,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LAMR. Blue Trust Inc. boosted its holdings in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Lamar Advertising in the 3rd quarter worth approximately $25,000. Concord Wealth Partners acquired a new position in shares of Lamar Advertising in the 3rd quarter worth approximately $26,000. Assetmark Inc. lifted its holdings in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 117 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings 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 acquiring an additional 143 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Up 1.2 %

LAMR traded up $1.55 during trading hours on Friday, hitting $130.04. 449,683 shares of the company's stock were exchanged, compared to its average volume of 380,884. Lamar Advertising has a 12-month low of $105.44 and a 12-month high of $139.88. The firm has a 50 day moving average of $124.79 and a 200 day moving average of $127.12. The firm has a market cap of $13.31 billion, a P/E ratio of 26.01 and a beta of 1.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.31%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising's payout ratio is currently 112.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LAMR. StockNews.com lowered shares of Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Morgan Stanley upped their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price objective on shares of 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, TD Cowen upped 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, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $132.40.

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.