Boothbay Fund Management LLC decreased its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 91.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,799 shares of the real estate investment trust's stock after selling 18,533 shares during the period. Boothbay Fund Management LLC's holdings in Lamar Advertising were worth $219,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in LAMR. Rialto Wealth Management LLC purchased a new stake in Lamar Advertising during the 4th quarter valued at approximately $25,000. Bessemer Group Inc. boosted its position in shares of Lamar Advertising by 106.7% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 143 shares during the last quarter. Blue Trust Inc. grew its stake in Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc increased 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 valued at $55,000 after acquiring an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Lamar Advertising by 16.8% in the 4th 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. Hedge funds and other institutional investors own 93.78% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday. Citigroup lifted their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $132.60.
Read Our Latest Report on LAMR
Lamar Advertising Stock Performance
Lamar Advertising stock opened at $115.93 on Friday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The company has a 50 day moving average price of $113.66 and a 200-day moving average price of $122.91. The company has a market capitalization of $11.87 billion, a PE ratio of 32.84 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 announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. As a group, equities analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase 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 5.35%. Lamar Advertising's dividend payout ratio (DPR) is currently 175.64%.
Lamar Advertising Company Profile
(
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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