Legal & General Group Plc Lowers Stake in Lamar Advertising (NASDAQ:LAMR)

Legal & General Group Plc cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,346 shares of the real estate investment trust's stock after selling 13,271 shares during the period. Legal & General Group Plc owned about 0.20% of Lamar Advertising worth $25,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LAMR. Rialto Wealth Management LLC acquired a new position in shares of Lamar Advertising in the 4th quarter valued at $25,000. Blue Trust Inc. boosted its stake in shares of Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 143 shares during the period. Avior Wealth Management LLC boosted its position in Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 84 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 90 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

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Lamar Advertising Trading Down 1.6 %

NASDAQ LAMR traded down $1.81 on Tuesday, reaching $109.36. 810,107 shares of the company were exchanged, compared to its average volume of 483,821. The business's fifty day moving average price is $118.08 and its 200 day moving average price is $124.99. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $11.20 billion, a P/E ratio of 30.98 and a beta of 1.34. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $1.55 per share. The ex-dividend date was Friday, March 14th. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.67%. Lamar Advertising's dividend payout ratio is currently 175.64%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Citigroup boosted their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $134.60.

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.