59 North Capital Management LP Decreases Stake in Lamar Advertising (NASDAQ:LAMR)

59 North Capital Management LP reduced its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 537,872 shares of the real estate investment trust's stock after selling 127,901 shares during the period. Lamar Advertising accounts for about 3.1% of 59 North Capital Management LP's holdings, making the stock its 12th biggest position. 59 North Capital Management LP owned 0.53% of Lamar Advertising worth $65,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Carmel Capital Partners LLC lifted its position in shares of Lamar Advertising by 2.0% during the 4th quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock valued at $494,000 after acquiring an additional 81 shares during the period. Tower Research Capital LLC TRC raised its stake in Lamar Advertising by 1.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust's stock worth $867,000 after purchasing an additional 81 shares during the period. Sanctuary Advisors LLC increased its stake in Lamar Advertising by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock worth $2,442,000 after acquiring an additional 82 shares during the last quarter. Avior Wealth Management LLC grew its stake 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 buying an additional 84 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Lamar Advertising by 14.7% during the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 90 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $114.00 on Friday. The stock's fifty day simple moving average is $113.85 and its 200-day simple moving average is $123.16. Lamar Advertising has a 1-year low of $99.84 and a 1-year high of $139.88. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 32.29 and a beta of 1.34. 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 posted its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping 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 firm had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. On average, sell-side analysts predict 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. Stockholders of record on Friday, March 14th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. Lamar Advertising's dividend payout ratio (DPR) is presently 175.64%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LAMR. Morgan Stanley cut their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Finally, Citigroup boosted their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising has an average rating of "Hold" and a consensus target price of $132.60.

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.

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