Truist Financial Corp Cuts Position in Lamar Advertising (NASDAQ:LAMR)

Truist Financial Corp trimmed its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 81,447 shares of the real estate investment trust’s stock after selling 1,003 shares during the quarter. Truist Financial Corp’s holdings in Lamar Advertising were worth $9,915,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Lamar Advertising by 444.1% in the third 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 position in Lamar Advertising in the third quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in Lamar Advertising in the third quarter valued at approximately $26,000. Assetmark Inc. boosted its holdings in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Lamar Advertising by 46.6% in the fourth 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. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

LAMR stock opened at $121.91 on Friday. The company has a market capitalization of $12.48 billion, a P/E ratio of 24.38 and a beta of 1.51. Lamar Advertising has a twelve month low of $107.22 and a twelve month high of $139.88. The business has a 50 day simple moving average of $124.74 and a 200-day simple moving average of $127.31. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48.

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 the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. As a group, equities analysts anticipate that Lamar Advertising will post 7.49 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 5.09%. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analyst Ratings Changes

LAMR has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday. TD Cowen increased their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and a consensus target price of $133.40.

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.