Invesco Ltd. Sells 220,969 Shares of Lamar Advertising (NASDAQ:LAMR)

Invesco Ltd. lessened its holdings in Lamar Advertising (NASDAQ:LAMR) by 32.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 457,657 shares of the real estate investment trust’s stock after selling 220,969 shares during the period. Invesco Ltd. owned about 0.45% of Lamar Advertising worth $55,715,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Carmel Capital Partners LLC grew its position in Lamar Advertising by 2.0% during the 4th quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust’s stock worth $494,000 after acquiring an additional 81 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Lamar Advertising by 0.4% during the fourth quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust’s stock valued at $2,442,000 after purchasing an additional 82 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 84 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 90 shares during the period. Finally, Harbour Investments Inc. raised its holdings in Lamar Advertising by 12.1% in the 4th quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Down 1.6 %

LAMR opened at $109.36 on Wednesday. The stock has a market cap of $11.20 billion, a PE ratio of 30.98 and a beta of 1.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The company has a fifty day moving average of $117.74 and a 200-day moving average of $124.88.

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

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.67%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising’s dividend payout ratio is presently 175.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and a consensus target price of $134.60.

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.