Greenland Capital Management LP Has $323,000 Stock Position in Lamar Advertising (NASDAQ:LAMR)

Greenland Capital Management LP lowered its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 88.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,650 shares of the real estate investment trust's stock after selling 20,850 shares during the quarter. Greenland Capital Management LP's holdings in Lamar Advertising were worth $323,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Lamar Advertising by 11.0% in the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock valued at $672,890,000 after purchasing an additional 545,606 shares during the last quarter. State Street Corp grew its position in Lamar Advertising by 0.8% during the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock worth $352,752,000 after buying an additional 21,852 shares in the last quarter. Boston Partners increased its position in shares of Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock valued at $295,122,000 after purchasing an additional 152,575 shares during the period. Geode Capital Management LLC raised its stake in shares of Lamar Advertising by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,114,001 shares of the real estate investment trust's stock valued at $257,414,000 after buying an additional 59,039 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Lamar Advertising by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after purchasing an additional 90,933 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

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Lamar Advertising Price Performance

Shares of LAMR traded down $0.05 during mid-day trading on Monday, hitting $112.96. 117,338 shares of the company traded hands, compared to its average volume of 478,446. The business has a 50-day moving average of $118.38 and a 200 day moving average of $125.15. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 32.00 and a beta of 1.34. Lamar Advertising has a one year low of $99.84 and a one year high of $139.88. 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 (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.55 per share. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.49%. Lamar Advertising's dividend payout ratio (DPR) is presently 175.64%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LAMR shares. JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Citigroup increased their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $134.60.

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.