Lamar Advertising (NASDAQ:LAMR) Stake Cut by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Lamar Advertising (NASDAQ:LAMR) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,376 shares of the real estate investment trust’s stock after selling 533 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Lamar Advertising were worth $1,141,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC bought a new stake in shares of Lamar Advertising during the 4th quarter valued at about $25,000. Bessemer Group Inc. boosted its stake in Lamar Advertising by 106.7% in the fourth 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 period. Blue Trust Inc. grew its holdings in shares of Lamar Advertising by 58.4% during the fourth 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 during the last quarter. Versant Capital Management Inc raised its position 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 worth $55,000 after purchasing an additional 143 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings 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 purchasing an additional 84 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $110.48 on Wednesday. The firm’s 50-day simple moving average is $115.88 and its 200 day simple moving average is $124.06. The stock has a market cap of $11.31 billion, a P/E ratio of 31.30 and a beta of 1.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Equities analysts expect that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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 dividend yield of 5.61%. Lamar Advertising’s dividend payout ratio is 175.64%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped 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. Citigroup boosted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $134.60.

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.