Capital World Investors Sells 801,711 Shares of Lamar Advertising (NASDAQ:LAMR)

Capital World Investors lessened its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 40.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,203,322 shares of the real estate investment trust’s stock after selling 801,711 shares during the period. Capital World Investors owned about 1.18% of Lamar Advertising worth $146,492,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of LAMR. GeoWealth Management LLC grew its stake in shares of Lamar Advertising by 100.8% in the fourth quarter. GeoWealth Management LLC now owns 773 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 388 shares in the last quarter. Osterweis Capital Management Inc. increased its stake in shares of Lamar Advertising by 0.8% during the 4th quarter. Osterweis Capital Management Inc. now owns 201,054 shares of the real estate investment trust’s stock worth $24,476,000 after purchasing an additional 1,675 shares during the last quarter. Zacks Investment Management raised its holdings in shares of Lamar Advertising by 2.1% in the 4th quarter. Zacks Investment Management now owns 344,343 shares of the real estate investment trust’s stock valued at $41,920,000 after purchasing an additional 7,191 shares during the period. NewEdge Advisors LLC lifted its stake in Lamar Advertising by 3.7% in the 4th quarter. NewEdge Advisors LLC now owns 35,258 shares of the real estate investment trust’s stock valued at $4,292,000 after purchasing an additional 1,269 shares during the last quarter. Finally, Master S Wealth Management Inc. acquired a new position in Lamar Advertising during the fourth quarter worth approximately $212,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

LAMR opened at $108.99 on Monday. The firm has a market cap of $11.16 billion, a P/E ratio of 30.88 and a beta of 1.34. The business’s fifty day moving average is $116.58 and its 200-day moving average is $124.33. Lamar Advertising has a 52-week low of $99.84 and a 52-week high of $139.88. 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 earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. The company 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%. Sell-side analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.69%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is 175.64%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LAMR. Citigroup boosted their target price on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Five equities 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.com, the stock presently has an average rating of “Hold” and a consensus price target 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.