Cornercap Investment Counsel Inc. Trims Position in Lamar Advertising (NASDAQ:LAMR)

Cornercap Investment Counsel Inc. trimmed its position in Lamar Advertising (NASDAQ:LAMR) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,157 shares of the real estate investment trust’s stock after selling 224 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Lamar Advertising were worth $750,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in Lamar Advertising by 71.0% in the 3rd quarter. Cerity Partners LLC now owns 22,229 shares of the real estate investment trust’s stock valued at $2,970,000 after purchasing an additional 9,232 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising in the third quarter worth $25,000. BNP Paribas Financial Markets boosted its stake in Lamar Advertising by 96.0% during the third quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after buying an additional 47,746 shares during the period. Glenmede Trust Co. NA grew its position in Lamar Advertising by 10.5% during the third quarter. Glenmede Trust Co. NA now owns 91,262 shares of the real estate investment trust’s stock worth $12,193,000 after buying an additional 8,651 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in shares of Lamar Advertising by 44.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 2,470 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 760 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LAMR. Citigroup lifted their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Price Performance

LAMR opened at $112.46 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $11.52 billion, a P/E ratio of 31.86 and a beta of 1.53. The stock has a 50-day moving average price of $122.38 and a 200-day moving average price of $126.95. Lamar Advertising has a 12-month low of $108.80 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. The business had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Equities analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date was Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is presently 175.64%.

About Lamar Advertising

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.