Entropy Technologies LP cut its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 29.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,712 shares of the real estate investment trust's stock after selling 3,600 shares during the quarter. Entropy Technologies LP's holdings in Lamar Advertising were worth $1,061,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in shares of Lamar Advertising by 2.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust's stock worth $500,000 after acquiring an additional 80 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Lamar Advertising by 0.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust's stock worth $1,576,000 after acquiring an additional 82 shares in the last quarter. Jamison Private Wealth Management Inc. raised its holdings in shares of Lamar Advertising by 6.6% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust's stock worth $180,000 after acquiring an additional 84 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Lamar Advertising by 16.8% during the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 84 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Lamar Advertising by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock worth $341,000 after acquiring an additional 85 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on LAMR. TD Cowen boosted their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Wells Fargo & Company cut their target price on 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. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Finally, StockNews.com downgraded Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $132.40.
Check Out Our Latest Stock Analysis on Lamar Advertising
Lamar Advertising Trading Up 1.2 %
Lamar Advertising stock traded up $1.55 during mid-day trading on Friday, hitting $130.04. The company's stock had a trading volume of 449,683 shares, compared to its average volume of 422,769. The company has a 50 day moving average of $124.81 and a 200-day moving average of $126.94. The stock has a market cap of $13.31 billion, a PE ratio of 26.01 and a beta of 1.51. 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 one year low of $105.44 and a one year high of $139.88.
Lamar Advertising Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising's dividend payout ratio (DPR) is presently 112.00%.
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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