Essex Financial Services Inc. Sells 484 Shares of Lamar Advertising (NASDAQ:LAMR)

Essex Financial Services Inc. lessened its position in shares of Lamar Advertising (NASDAQ:LAMR) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,538 shares of the real estate investment trust’s stock after selling 484 shares during the period. Essex Financial Services Inc.’s holdings in Lamar Advertising were worth $1,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Lamar Advertising in the 3rd quarter valued at $25,000. Concord Wealth Partners acquired a new stake in Lamar Advertising in the 3rd quarter valued at $26,000. Assetmark Inc. lifted its position in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $126.75 on Wednesday. The company has a market cap of $12.97 billion, a P/E ratio of 25.35 and a beta of 1.51. The firm’s fifty day moving average price is $125.13 and its two-hundred day moving average price is $126.90. Lamar Advertising has a one year low of $102.10 and a one year high of $139.88. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.42%. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analyst Ratings Changes

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

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.