Forte Capital LLC ADV Lowers Stake in Lamar Advertising (NASDAQ:LAMR)

Forte Capital LLC ADV reduced its position in shares of Lamar Advertising (NASDAQ:LAMR) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 17,837 shares of the real estate investment trust’s stock after selling 91 shares during the period. Forte Capital LLC ADV’s holdings in Lamar Advertising were worth $2,171,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising during the 3rd quarter worth about $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising in the 3rd quarter valued at about $26,000. Assetmark Inc. lifted its stake in Lamar Advertising by 109.3% in 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. Finally, Versant Capital Management Inc lifted its stake in Lamar Advertising by 46.6% in 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. 93.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LAMR. TD Cowen raised their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Down 7.3 %

LAMR stock opened at $122.31 on Friday. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 24.46 and a beta of 1.51. 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 $106.61 and a 12 month high of $139.88. The firm has a 50-day moving average of $124.74 and a two-hundred day moving average of $127.31.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. As a group, analysts forecast that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.55 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 5.07%. Lamar Advertising’s dividend payout ratio is presently 112.00%.

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.