Lamar Advertising (NASDAQ:LAMR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,751 shares of the real estate investment trust’s stock after selling 4,425 shares during the quarter. Corebridge Financial Inc. owned approximately 0.10% of Lamar Advertising worth $12,144,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Lamar Advertising in the 3rd quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new stake in Lamar Advertising in the fourth quarter worth $25,000. Blue Trust Inc. lifted its stake in 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 buying an additional 108 shares during the last quarter. Versant Capital Management Inc grew 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 during the last quarter. Finally, Avior Wealth Management LLC grew its position in Lamar Advertising by 16.8% in 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 during the last quarter. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup increased their price objective 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. decreased their price target on 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $112.79 on Wednesday. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The firm has a market capitalization of $11.55 billion, a PE ratio of 31.95 and a beta of 1.53. The company’s 50 day simple moving average is $122.93 and its 200 day simple moving average is $127.18. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

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 (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, equities research analysts forecast that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.50%. 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.