Edgestream Partners L.P. Lowers Position in Lamar Advertising Company (NASDAQ:LAMR)

Edgestream Partners L.P. decreased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 68.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,692 shares of the real estate investment trust's stock after selling 21,068 shares during the quarter. Edgestream Partners L.P.'s holdings in Lamar Advertising were worth $1,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LAMR. Farther Finance Advisors LLC grew its holdings in Lamar Advertising by 24.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,216 shares of the real estate investment trust's stock valued at $148,000 after purchasing an additional 241 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Lamar Advertising by 1.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 16,724 shares of the real estate investment trust's stock worth $2,036,000 after buying an additional 165 shares during the period. Natixis Advisors LLC grew its stake in Lamar Advertising by 3.9% in the 4th quarter. Natixis Advisors LLC now owns 66,802 shares of the real estate investment trust's stock valued at $8,132,000 after buying an additional 2,514 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Lamar Advertising by 13.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,853 shares of the real estate investment trust's stock valued at $1,321,000 after buying an additional 1,270 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Lamar Advertising by 3.4% in the 4th quarter. Corient Private Wealth LLC now owns 10,023 shares of the real estate investment trust's stock worth $1,220,000 after acquiring an additional 333 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Performance

Lamar Advertising stock traded up $1.13 during trading hours on Tuesday, reaching $125.17. 425,092 shares of the company were exchanged, compared to its average volume of 530,396. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 30.38 and a beta of 1.33. The stock has a 50-day moving average of $120.79 and a 200 day moving average of $119.27. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. The firm had revenue of $505.43 million for the quarter, compared to analysts' expectations of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. As a group, research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Monday, June 16th. Lamar Advertising's dividend payout ratio is 150.49%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LAMR. Morgan Stanley dropped their price objective on shares of Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $134.00.

Lamar Advertising Company 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.