Private Management Group Inc. Sells 9,378 Shares of Lamar Advertising (NASDAQ:LAMR)

Private Management Group Inc. cut its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,124 shares of the real estate investment trust’s stock after selling 9,378 shares during the quarter. Private Management Group Inc. owned approximately 0.16% of Lamar Advertising worth $19,737,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Janus Henderson Group PLC raised its stake in Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock valued at $567,632,000 after purchasing an additional 119,068 shares during the period. State Street Corp grew its holdings in Lamar Advertising by 0.8% during the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after buying an additional 21,852 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Lamar Advertising by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock valued at $274,595,000 after buying an additional 90,775 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after buying an additional 617,356 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Lamar Advertising by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after buying an additional 90,933 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LAMR shares. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley lifted their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their price target on 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 lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Up 1.0 %

Shares of NASDAQ LAMR opened at $126.35 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12-month low of $102.10 and a 12-month high of $139.88. The firm’s 50-day moving average price is $125.65 and its 200-day moving average price is $126.69. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 25.27 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million for 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 company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. On average, equities research analysts anticipate that Lamar Advertising will post 7.49 EPS 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 4.43%. 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.