iA Global Asset Management Inc. Has $280,000 Stock Position in Lamar Advertising (NASDAQ:LAMR)

iA Global Asset Management Inc. lowered its stake in Lamar Advertising (NASDAQ:LAMR) by 94.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,300 shares of the real estate investment trust’s stock after selling 36,200 shares during the period. iA Global Asset Management Inc.’s holdings in Lamar Advertising were worth $280,000 at the end of the most recent quarter.

Other hedge funds 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 acquired a new position in shares of Lamar Advertising during the fourth quarter worth $25,000. Blue Trust Inc. lifted its holdings in shares of Lamar Advertising by 58.4% during the fourth 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 period. Versant Capital Management Inc lifted its holdings in shares of Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 143 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in shares of Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $111.19 on Friday. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88. The firm has a fifty day simple moving average of $123.20 and a 200 day simple moving average of $127.32. The company has a market capitalization of $11.39 billion, a PE ratio of 31.50 and a beta of 1.53. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR) last announced its 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. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. On average, sell-side analysts forecast 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 will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.55 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.58%. The ex-dividend date is Friday, March 14th. Lamar Advertising’s payout ratio is 175.64%.

Analyst Ratings Changes

LAMR has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of 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 shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $134.60.

About Lamar Advertising

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.