Everence Capital Management Inc. Takes $337,000 Position in Lamar Advertising (NASDAQ:LAMR)

Everence Capital Management Inc. purchased a new position in shares of Lamar Advertising (NASDAQ:LAMR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,770 shares of the real estate investment trust’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. raised its stake in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group bought a new stake in Lamar Advertising in the third quarter worth about $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising in the third quarter valued at about $26,000. Assetmark Inc. grew its position in shares of Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 117 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Lamar Advertising during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $121.76 on Tuesday. The business’s fifty day moving average is $128.71 and its 200 day moving average is $125.84. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 24.35 and a beta of 1.50. 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 has a 52-week low of $102.10 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 earnings per share. Research analysts predict that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.60%. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analyst Ratings Changes

LAMR has been the topic of several research analyst reports. TD Cowen upped their price objective on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. 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 company currently has an average rating of “Hold” and a consensus target price of $132.40.

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.