iA Global Asset Management Inc. decreased its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 94.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,300 shares of the real estate investment trust's stock after selling 36,200 shares during the period. iA Global Asset Management Inc.'s holdings in Lamar Advertising were worth $280,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Lamar Advertising in the third quarter valued at about $25,000. Rialto Wealth Management LLC acquired a new position in shares of Lamar Advertising during the 4th quarter worth approximately $25,000. Blue Trust Inc. increased its holdings in shares of Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc raised its position in shares of 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 valued at $55,000 after buying an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 93.78% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on LAMR. JPMorgan Chase & Co. lowered their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Citigroup boosted their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and an average target price of $134.60.
Check Out Our Latest Research Report on LAMR
Lamar Advertising Price Performance
Shares of LAMR traded down $1.43 during midday trading on Thursday, hitting $112.55. The company's stock had a trading volume of 486,072 shares, compared to its average volume of 439,315. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a one year low of $108.80 and a one year high of $139.88. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 31.88 and a beta of 1.53. The company's fifty day simple moving average is $122.82 and its two-hundred day simple moving average is $127.09.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.55 dividend. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.51%. Lamar Advertising's dividend payout ratio is presently 175.64%.
About Lamar Advertising
(
Free Report)
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.
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