iA Global Asset Management Inc. Sells 36,200 Shares of Lamar Advertising (NASDAQ:LAMR)

iA Global Asset Management Inc. cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 94.0% in the 4th quarter, according to the company in its most recent disclosure 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 reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Lamar Advertising during the third quarter worth about $25,000. Rialto Wealth Management LLC bought a new stake in shares of Lamar Advertising during the fourth quarter worth about $25,000. Blue Trust Inc. increased its position 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 acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc increased its position 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 acquiring an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position 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 acquiring an additional 84 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Down 0.9 %

Lamar Advertising stock opened at $111.19 on Friday. Lamar Advertising has a fifty-two week low of $108.80 and a fifty-two week high of $139.88. The stock has a market cap of $11.39 billion, a PE ratio of 31.50 and a beta of 1.53. The firm’s 50-day simple moving average is $123.20 and its 200 day simple moving average is $127.32. 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 released 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. The business had revenue of $579.57 million for 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%. Research analysts predict 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 will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.58%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising’s payout ratio is presently 175.64%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LAMR shares. Citigroup boosted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.