Lamar Advertising (NASDAQ:LAMR) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,447 shares of the real estate investment trust’s stock after selling 1,003 shares during the quarter. Truist Financial Corp owned approximately 0.08% of Lamar Advertising worth $9,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its position 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 valued at $25,000 after acquiring an additional 151 shares during the last quarter. Brooklyn Investment Group acquired a new position in Lamar Advertising in the third quarter valued at about $25,000. Concord Wealth Partners acquired a new position in Lamar Advertising in the third quarter valued at about $26,000. Assetmark Inc. lifted its position in Lamar Advertising by 109.3% in the third 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 during the last quarter. Finally, Versant Capital Management Inc lifted its position in Lamar Advertising by 46.6% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Down 0.3 %

Shares of NASDAQ:LAMR opened at $121.91 on Friday. 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 capitalization of $12.48 billion, a PE ratio of 24.38 and a beta of 1.51. The firm’s 50-day moving average is $124.74 and its two-hundred day moving average is $127.31. Lamar Advertising has a 1 year low of $107.22 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. The company had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. Analysts predict that Lamar Advertising will post 7.49 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.09%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Analysts Set New Price Targets

A number of research analysts have commented on LAMR shares. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday. TD Cowen upped their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley upped their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $133.40.

About Lamar Advertising

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.