Lamar Advertising (NASDAQ:LAMR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 65,072 shares of the real estate investment trust’s stock after selling 1,277 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lamar Advertising were worth $7,922,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Lamar Advertising during the third quarter worth $25,000. Rialto Wealth Management LLC purchased a new stake in Lamar Advertising during the 4th quarter worth about $25,000. Blue Trust Inc. boosted its position 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 acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc increased its holdings 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 valued at $55,000 after acquiring an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position 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 acquiring an additional 84 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

LAMR stock opened at $112.46 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The company has a market capitalization of $11.52 billion, a P/E ratio of 31.86 and a beta of 1.53. The business has a 50 day simple moving average of $122.38 and a 200-day simple moving average of $126.95. Lamar Advertising has a twelve month low of $108.80 and a twelve month 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. The firm had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. As a group, equities analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is 175.64%.

Analysts Set New Price Targets

LAMR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Citigroup upped their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.