Lamar Advertising (NASDAQ:LAMR) Position Lessened by Brookstone Capital Management

Brookstone Capital Management decreased its stake in Lamar Advertising (NASDAQ:LAMR) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,651 shares of the real estate investment trust’s stock after selling 212 shares during the period. Brookstone Capital Management’s holdings in Lamar Advertising were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LAMR. Wellington Management Group LLP lifted its holdings in shares of Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after purchasing an additional 617,356 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Lamar Advertising during the 3rd quarter valued at $43,665,000. International Assets Investment Management LLC increased its position in shares of Lamar Advertising by 49,140.4% during the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after purchasing an additional 284,523 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Lamar Advertising by 148.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock valued at $58,058,000 after purchasing an additional 259,979 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Lamar Advertising by 631.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust’s stock valued at $24,088,000 after purchasing an additional 155,656 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $125.25 on Friday. Lamar Advertising has a fifty-two week low of $102.10 and a fifty-two week high of $139.88. The business has a 50-day moving average of $126.30 and a two-hundred day moving average of $125.99. The stock has a market capitalization of $12.82 billion, a P/E ratio of 25.05 and a beta of 1.50. 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 announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same period in the prior year, the firm earned $2.04 EPS. Lamar Advertising’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.47%. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LAMR shares. Wells Fargo & Company decreased their target price 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. TD Cowen lifted their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.