Lamar Advertising (NASDAQ:LAMR) Stake Lowered by Select Equity Group L.P.

Select Equity Group L.P. trimmed its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,853 shares of the real estate investment trust's stock after selling 16,884 shares during the quarter. Select Equity Group L.P. owned 0.29% of Lamar Advertising worth $36,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in shares of Lamar Advertising during the 4th quarter worth about $25,000. Bessemer Group Inc. raised its stake in Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 143 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Lamar Advertising by 58.4% during 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 in the last quarter. Avior Wealth Management LLC raised its stake in shares of Lamar Advertising by 16.8% during 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 in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Lamar Advertising by 14.7% in the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 90 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Down 0.5%

Shares of NASDAQ LAMR traded down $0.64 during midday trading on Tuesday, reaching $118.57. 539,488 shares of the company's stock were exchanged, compared to its average volume of 513,742. Lamar Advertising has a 52-week low of $99.84 and a 52-week high of $139.88. The stock has a market capitalization of $12.14 billion, a PE ratio of 33.59 and a beta of 1.38. 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 business's fifty day moving average price is $112.62 and its two-hundred day moving average price is $121.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.23%. The ex-dividend date is Monday, June 16th. Lamar Advertising's dividend payout ratio is currently 150.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LAMR shares. Citigroup increased their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Finally, Morgan Stanley decreased their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $132.60.

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.