The Manufacturers Life Insurance Company Lowers Stake in Lamar Advertising (NASDAQ:LAMR)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,418 shares of the real estate investment trust's stock after selling 5,375 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Lamar Advertising worth $9,303,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LAMR. Rialto Wealth Management LLC purchased a new position in shares of Lamar Advertising in the 4th quarter worth $25,000. Bessemer Group Inc. boosted its stake 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 worth $34,000 after buying an additional 143 shares during the last quarter. 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 worth $39,000 after buying an additional 108 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 worth $55,000 after buying an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake 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 buying an additional 84 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Trading Down 0.4%

Shares of NASDAQ:LAMR traded down $0.46 during trading hours on Friday, hitting $114.81. 936,623 shares of the company's stock traded hands, compared to its average volume of 505,770. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88. The business has a fifty day moving average price of $112.96 and a 200-day moving average price of $122.13. The firm has a market capitalization of $11.76 billion, a P/E ratio of 32.52 and a beta of 1.38. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Equities analysts expect 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 issued a $1.55 dividend. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.40%. Lamar Advertising's payout ratio is presently 150.49%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LAMR shares. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Morgan Stanley decreased their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup raised 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $132.60.

Lamar Advertising 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.