Greenland Capital Management LP Reduces Holdings in Lamar Advertising (NASDAQ:LAMR)

Greenland Capital Management LP lowered its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 88.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,650 shares of the real estate investment trust’s stock after selling 20,850 shares during the quarter. Greenland Capital Management LP’s holdings in Lamar Advertising were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of LAMR. Rialto Wealth Management LLC acquired a new position in shares of Lamar Advertising during the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its position in shares of Lamar Advertising by 58.4% in the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 valued at $55,000 after acquiring an additional 143 shares during the last quarter. Avior Wealth Management LLC increased its position in 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 purchasing an additional 84 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Lamar Advertising by 14.7% in the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LAMR. JPMorgan Chase & Co. decreased their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Citigroup lifted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising has an average rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Price Performance

LAMR opened at $102.35 on Wednesday. Lamar Advertising has a 1 year low of $100.00 and a 1 year high of $139.88. The company’s 50 day simple moving average is $119.45 and its 200 day simple moving average is $125.75. The stock 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 posted 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. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. As a group, sell-side analysts expect that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date was Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is 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.