Invesco Ltd. Trims Holdings in Lamar Advertising (NASDAQ:LAMR)

Invesco Ltd. reduced its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 32.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 457,657 shares of the real estate investment trust's stock after selling 220,969 shares during the quarter. Invesco Ltd. owned approximately 0.45% of Lamar Advertising worth $55,715,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in shares of Lamar Advertising during the 4th quarter worth $25,000. Blue Trust Inc. boosted its stake 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 valued at $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 143 shares during the last quarter. 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 valued at $71,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock valued at $85,000 after buying an additional 90 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 1.1 %

Shares of NASDAQ:LAMR traded down $1.17 during midday trading on Monday, reaching $107.82. The company's stock had a trading volume of 35,377 shares, compared to its average volume of 486,741. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. 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 firm has a 50 day moving average price of $116.58 and a two-hundred day moving average price of $124.33. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 30.66 and a beta of 1.34.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. As a group, analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.55 per share. 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 yield of 5.75%. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's dividend payout ratio is 175.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LAMR shares. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Citigroup increased their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lamar Advertising currently has an average rating of "Hold" and an average target price of $134.60.

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.