Ethic Inc. Sells 558 Shares of Lamar Advertising (NASDAQ:LAMR)

Ethic Inc. trimmed its position in shares of Lamar Advertising (NASDAQ:LAMR) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,901 shares of the real estate investment trust’s stock after selling 558 shares during the period. Ethic Inc.’s holdings in Lamar Advertising were worth $1,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after acquiring an additional 14,672 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares in the last quarter. Accurate Wealth Management LLC boosted its position in shares of Lamar Advertising by 11.1% during the fourth quarter. Accurate Wealth Management LLC now owns 2,654 shares of the real estate investment trust’s stock valued at $315,000 after buying an additional 265 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at $253,000. Finally, Park Avenue Securities LLC lifted its stake in Lamar Advertising by 16.1% during the 4th quarter. Park Avenue Securities LLC now owns 3,495 shares of the real estate investment trust’s stock valued at $425,000 after acquiring an additional 484 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $118.89 on Wednesday. The firm has a 50 day moving average of $112.76 and a 200 day moving average of $121.99. 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 firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 33.68 and a beta of 1.38. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. The business had revenue of $505.43 million for the quarter, compared to analysts’ expectations of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, research analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is currently 150.49%.

Analysts Set New Price Targets

A number of analysts have recently commented on LAMR shares. Citigroup lifted their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Morgan Stanley cut their target price on shares of Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $132.60.

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.