Lamar Advertising (NASDAQ:LAMR) Holdings Boosted by Hourglass Capital LLC

Hourglass Capital LLC raised its stake in Lamar Advertising (NASDAQ:LAMR) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,920 shares of the real estate investment trust’s stock after acquiring an additional 1,290 shares during the period. Hourglass Capital LLC’s holdings in Lamar Advertising were worth $3,277,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Lamar Advertising in the third quarter valued at approximately $25,000. Concord Wealth Partners bought a new stake in shares of Lamar Advertising during the third quarter valued at approximately $26,000. Assetmark Inc. boosted its position in shares of Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the period. Finally, Versant Capital Management Inc grew its holdings 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 worth $55,000 after buying an additional 143 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LAMR. TD Cowen lifted their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Trading Up 1.2 %

Shares of LAMR stock opened at $130.04 on Friday. The stock has a 50-day simple moving average of $124.79 and a 200 day simple moving average of $127.07. The stock has a market capitalization of $13.31 billion, a P/E ratio of 26.01 and a beta of 1.51. Lamar Advertising has a fifty-two week low of $105.44 and a fifty-two week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.31%. Lamar Advertising’s dividend payout ratio is currently 112.00%.

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.