Federated Hermes Inc. Sells 21,300 Shares of Lamar Advertising (NASDAQ:LAMR)

Federated Hermes Inc. lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,096 shares of the real estate investment trust's stock after selling 21,300 shares during the quarter. Federated Hermes Inc. owned about 0.25% of Lamar Advertising worth $31,542,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Lamar Advertising by 71.0% during the 4th quarter. Russell Investments Group Ltd. now owns 142,298 shares of the real estate investment trust's stock worth $17,323,000 after acquiring an additional 59,062 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Lamar Advertising by 6.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 431,725 shares of the real estate investment trust's stock valued at $52,558,000 after purchasing an additional 24,830 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Lamar Advertising in the 4th quarter valued at $4,266,000. Prudential PLC raised its holdings in shares of Lamar Advertising by 14.3% during the 4th quarter. Prudential PLC now owns 43,389 shares of the real estate investment trust's stock worth $5,282,000 after buying an additional 5,418 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of Lamar Advertising by 2.0% during the 4th quarter. Centersquare Investment Management LLC now owns 603,010 shares of the real estate investment trust's stock worth $73,410,000 after buying an additional 11,635 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Trading Up 0.2 %

Shares of Lamar Advertising stock traded up $0.17 during trading on Monday, hitting $113.18. The company's stock had a trading volume of 89,452 shares, compared to its average volume of 478,303. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 32.06 and a beta of 1.34. 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 has a 52 week low of $99.84 and a 52 week high of $139.88. The stock has a 50-day moving average price of $118.38 and a two-hundred day moving average price of $125.15.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. The company had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Equities research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced 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 annualized dividend and a yield of 5.48%. Lamar Advertising's payout ratio is presently 175.64%.

Analyst Ratings Changes

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