Gilman Hill Asset Management LLC cut its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,118 shares of the real estate investment trust’s stock after selling 1,410 shares during the quarter. Lamar Advertising comprises 1.8% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 10th biggest position. Gilman Hill Asset Management LLC’s holdings in Lamar Advertising were worth $5,634,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Alberta Investment Management Corp raised its position in Lamar Advertising by 77.8% during the 2nd quarter. Alberta Investment Management Corp now owns 94,600 shares of the real estate investment trust’s stock worth $7,635,000 after buying an additional 41,400 shares during the last quarter. Grisanti Capital Management LLC raised its position in Lamar Advertising by 536.4% during the 3rd quarter. Grisanti Capital Management LLC now owns 96,910 shares of the real estate investment trust’s stock worth $7,940,000 after buying an additional 81,683 shares during the last quarter. Appleton Partners Inc. MA purchased a new position in Lamar Advertising during the 3rd quarter worth approximately $1,624,000. Victory Capital Management Inc. raised its position in Lamar Advertising by 6.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,145,239 shares of the real estate investment trust’s stock worth $253,853,000 after buying an additional 188,976 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in Lamar Advertising by 14.2% during the 3rd quarter. AE Wealth Management LLC now owns 24,156 shares of the real estate investment trust’s stock worth $1,979,000 after buying an additional 2,998 shares during the last quarter. 79.28% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on LAMR shares. ValuEngine lowered shares of Lamar Advertising from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. BidaskClub lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $83.50.
Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.08). The firm had revenue of $457.80 million for the quarter, compared to analysts’ expectations of $452.91 million. Lamar Advertising had a net margin of 21.23% and a return on equity of 32.10%. Lamar Advertising’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. On average, equities research analysts predict that Lamar Advertising Co will post 5.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, December 13th. Lamar Advertising’s payout ratio is presently 69.82%.
Lamar Advertising Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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