Hamlin Capital Management LLC Cuts Holdings in Lamar Advertising (NASDAQ:LAMR)

Hamlin Capital Management LLC lessened its stake in Lamar Advertising (NASDAQ:LAMR) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,268,445 shares of the real estate investment trust’s stock after selling 3,704 shares during the period. Lamar Advertising makes up about 3.8% of Hamlin Capital Management LLC’s holdings, making the stock its 17th biggest holding. Hamlin Capital Management LLC owned 1.24% of Lamar Advertising worth $154,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of 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 acquiring an additional 617,356 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Lamar Advertising in the 3rd quarter worth approximately $43,665,000. International Assets Investment Management LLC lifted its holdings in shares of Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after acquiring an additional 284,523 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Lamar Advertising by 148.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock worth $58,058,000 after acquiring an additional 259,979 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in 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 buying an additional 155,656 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several research reports. TD Cowen upped their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Morgan Stanley upped their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Trading Up 3.0 %

Lamar Advertising stock opened at $125.25 on Tuesday. The firm’s 50 day moving average price is $126.21 and its 200-day moving average price is $126.08. Lamar Advertising has a 1 year low of $102.10 and a 1 year high of $139.88. The stock has a market cap 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 the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. During the same quarter in the prior year, the firm posted $2.04 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts predict that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

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

Lamar Advertising 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.