Victory Capital Management Inc. Trims Stock Position in Lamar Advertising (NASDAQ:LAMR)

Victory Capital Management Inc. lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,124,537 shares of the real estate investment trust's stock after selling 124,607 shares during the quarter. Victory Capital Management Inc. owned about 4.04% of Lamar Advertising worth $438,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of LAMR. Cary Street Partners Investment Advisory LLC purchased a new position in Lamar Advertising during the third quarter valued at $30,000. Signaturefd LLC lifted its stake in shares of Lamar Advertising by 43.7% in the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust's stock worth $41,000 after buying an additional 150 shares in the last quarter. Arlington Trust Co LLC bought a new position in Lamar Advertising in the 4th quarter valued at approximately $57,000. Sunbelt Securities Inc. boosted its position in shares of Lamar Advertising by 249.0% during the third quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust's stock valued at $59,000 after buying an additional 503 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Lamar Advertising in the third quarter worth approximately $108,000. 93.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. 14.98% of the stock is owned by insiders.

Lamar Advertising Stock Performance

NASDAQ:LAMR traded up $1.65 during mid-day trading on Wednesday, hitting $117.50. 876,295 shares of the company traded hands, compared to its average volume of 407,508. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. The stock's fifty day moving average price is $114.58 and its 200-day moving average price is $105.31. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 23.89 and a beta of 1.50. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.49). The firm had revenue of $555.91 million during the quarter, compared to analysts' expectations of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same period in the prior year, the company posted $1.91 earnings per share. Research analysts anticipate that Lamar Advertising will post 7.54 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.43%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.25. Lamar Advertising's dividend payout ratio (DPR) is currently 107.22%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LAMR. JPMorgan Chase & Co. increased their price target on Lamar Advertising from $92.00 to $109.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Morgan Stanley upped their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a "hold" rating to a "buy" rating in a research report on Tuesday, March 5th.

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.