ProVise Management Group LLC Sells 1,407 Shares of Lamar Advertising (NASDAQ:LAMR)

ProVise Management Group LLC lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,239 shares of the real estate investment trust’s stock after selling 1,407 shares during the period. ProVise Management Group LLC’s holdings in Lamar Advertising were worth $4,047,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of LAMR. Brooklyn Investment Group bought a new stake in shares of Lamar Advertising during the 3rd quarter valued at $25,000. Rialto Wealth Management LLC bought a new stake in shares of Lamar Advertising during the 4th quarter valued at $25,000. Assetmark Inc. boosted its holdings in shares of Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 117 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 108 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings 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 valued at $55,000 after buying an additional 143 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR opened at $114.47 on Wednesday. Lamar Advertising has a 1 year low of $108.80 and a 1 year high of $139.88. The stock has a 50-day moving average price of $123.62 and a 200-day moving average price of $127.60. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $11.72 billion, a PE ratio of 32.43 and a beta of 1.53.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Sell-side analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.55 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 5.42%. Lamar Advertising’s payout ratio is 175.64%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $134.60.

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.