Cornercap Investment Counsel Inc. Sells 5,512 Shares of Lamar Advertising (NASDAQ:LAMR)

Cornercap Investment Counsel Inc. lessened its stake in Lamar Advertising (NASDAQ:LAMR) by 46.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,381 shares of the real estate investment trust’s stock after selling 5,512 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Lamar Advertising were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 151 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 130 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Lamar Advertising in the 3rd quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising in the 2nd quarter valued at approximately $30,000. Finally, Assetmark Inc. boosted its stake in Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $127.15 on Friday. Lamar Advertising has a 1 year low of $95.81 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.41 and a current ratio of 0.56. The company’s fifty day moving average price is $131.98 and its 200 day moving average price is $123.22. The company has a market capitalization of $13.01 billion, a PE ratio of 25.43 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 earnings per share. On average, research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.40%. Lamar Advertising’s payout ratio is presently 112.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target 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. JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday. Finally, Wells Fargo & Company reduced their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $132.40.

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.