Makaira Partners LLC cut its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 530,483 shares of the real estate investment trust's stock after selling 188,415 shares during the quarter. Lamar Advertising makes up approximately 10.1% of Makaira Partners LLC's holdings, making the stock its 5th biggest holding. Makaira Partners LLC owned about 0.52% of Lamar Advertising worth $64,581,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of LAMR. Rialto Wealth Management LLC purchased a new stake in Lamar Advertising in the fourth quarter worth about $25,000. Bessemer Group Inc. raised its holdings in shares of Lamar Advertising by 106.7% in the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 143 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Lamar Advertising by 58.4% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares during the period. Avior Wealth Management LLC lifted its position in shares of 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 during the period. Finally, McIlrath & Eck LLC boosted its stake in shares of Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 450 shares in the last quarter. Institutional investors own 93.78% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently commented on LAMR. Morgan Stanley reduced 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. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. Finally, Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $114.00 to $135.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $134.00.
View Our Latest Stock Report on Lamar Advertising
Lamar Advertising Stock Up 0.6%
LAMR traded up $0.73 during trading on Friday, hitting $120.41. The stock had a trading volume of 878,191 shares, compared to its average volume of 516,725. The stock has a 50 day simple moving average of $113.30 and a two-hundred day simple moving average of $120.81. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The company has a market capitalization of $12.33 billion, a PE ratio of 34.11 and a beta of 1.38.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $505.43 million during the quarter, compared to analysts' expectations of $509.72 million. On average, research analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.
Lamar Advertising Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.15%. Lamar Advertising's payout ratio is 150.49%.
About Lamar Advertising
(
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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