Lamar Advertising (NASDAQ:LAMR) Shares Sold by Burney Co.

Burney Co. trimmed its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,638 shares of the real estate investment trust’s stock after selling 340 shares during the period. Burney Co.’s holdings in Lamar Advertising were worth $1,539,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its stake in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Lamar Advertising in the third quarter valued at $25,000. Concord Wealth Partners purchased a new position in shares of Lamar Advertising in the third quarter valued at $26,000. Assetmark Inc. raised its stake in shares of Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LAMR. Morgan Stanley raised their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. TD Cowen lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $121.65 on Friday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $12.45 billion, a PE ratio of 24.33 and a beta of 1.50. The firm has a 50 day simple moving average of $126.37 and a 200-day simple moving average of $125.88. Lamar Advertising has a 1-year low of $102.10 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.04 EPS. On average, equities analysts expect that Lamar Advertising will post 7.49 EPS for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

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.