Lamar Advertising (NASDAQ:LAMR) Stock Holdings Reduced by Federated Hermes Inc.

Federated Hermes Inc. cut its position in shares of Lamar Advertising (NASDAQ:LAMR) by 7.6% in the fourth quarter, Holdings Channel reports. The firm owned 259,096 shares of the real estate investment trust’s stock after selling 21,300 shares during the period. Federated Hermes Inc.’s holdings in Lamar Advertising were worth $31,542,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Lamar Advertising in the fourth quarter worth approximately $25,000. Blue Trust Inc. increased 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 purchasing an additional 108 shares during the last quarter. Versant Capital Management Inc raised its holdings 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 valued at $55,000 after purchasing an additional 143 shares in the last quarter. Avior Wealth Management LLC lifted its stake 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 valued at $71,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 90 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LAMR has been the topic of several recent research reports. 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 report on Friday, February 21st. Citigroup upped their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lamar Advertising has an average rating of “Hold” and an average price target of $134.60.

Lamar Advertising Trading Down 2.4 %

Lamar Advertising stock opened at $102.35 on Wednesday. The business’s 50-day simple moving average is $119.45 and its 200-day simple moving average is $125.75. Lamar Advertising has a 52 week low of $100.00 and a 52 week high of $139.88. The firm has a market capitalization of $10.48 billion, a PE ratio of 28.99 and a beta of 1.34. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56.

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

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 6.06%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is currently 175.64%.

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.