Convergence Investment Partners LLC Boosts Holdings in Lamar Advertising (NASDAQ:LAMR)

Convergence Investment Partners LLC grew its position in shares of Lamar Advertising (NASDAQ:LAMR) by 31.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,215 shares of the real estate investment trust’s stock after buying an additional 1,484 shares during the quarter. Convergence Investment Partners LLC’s holdings in Lamar Advertising were worth $757,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in LAMR. Blue Trust Inc. grew its stake in 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 buying an additional 151 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Lamar Advertising in the third quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in shares of Lamar Advertising during the third quarter worth approximately $26,000. Assetmark Inc. increased its holdings in shares of Lamar Advertising by 109.3% in 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, Versant Capital Management Inc raised its position in Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 0.7 %

LAMR stock opened at $132.00 on Thursday. Lamar Advertising has a one year low of $106.43 and a one year high of $139.88. The stock has a market capitalization of $13.51 billion, a PE ratio of 26.40 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The company has a fifty day moving average of $124.87 and a 200-day moving average of $127.35.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.70%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LAMR. Morgan Stanley raised their price objective 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. Wells Fargo & Company lowered their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen increased their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lamar Advertising 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.