Impact Partnership Wealth LLC Cuts Stake in Lamar Advertising Company (NASDAQ:LAMR)

Impact Partnership Wealth LLC lessened its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 49.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,386 shares of the real estate investment trust's stock after selling 3,249 shares during the period. Impact Partnership Wealth LLC's holdings in Lamar Advertising were worth $385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Lamar Advertising by 11.0% during 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. Cohen & Steers Inc. lifted its position in Lamar Advertising by 453.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock valued at $323,900,000 after purchasing an additional 2,180,011 shares during the last quarter. Geode Capital Management LLC lifted its position in Lamar Advertising by 2.9% during the fourth 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 purchasing an additional 59,039 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Lamar Advertising by 50.5% in the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after acquiring an additional 428,744 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Lamar Advertising by 5.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock valued at $104,431,000 after buying an additional 50,004 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Lamar Advertising Stock Performance

Lamar Advertising stock traded down $0.89 during trading hours on Monday, hitting $124.04. 258,975 shares of the stock traded hands, compared to its average volume of 529,804. The firm's 50 day moving average price is $120.79 and its 200-day moving average price is $119.27. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 30.11 and a beta of 1.33. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57.

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

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Monday, June 16th. Lamar Advertising's payout ratio is 150.49%.

Wall Street Analysts Forecast Growth

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

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.