Lamar Advertising (NASDAQ:LAMR) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV trimmed its position in shares of Lamar Advertising (NASDAQ:LAMR) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,928 shares of the real estate investment trust’s stock after selling 2,937 shares during the quarter. Forte Capital LLC ADV’s holdings in Lamar Advertising were worth $2,395,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in 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 purchasing an additional 151 shares during the period. Whittier Trust Co. grew its holdings in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares during the period. Concord Wealth Partners purchased a new position in Lamar Advertising in the third quarter worth $26,000. Fidelis Capital Partners LLC acquired a new stake in Lamar Advertising in the first quarter valued at $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising during the 2nd quarter worth $30,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

LAMR stock opened at $132.14 on Thursday. The stock’s 50 day moving average price is $131.48 and its 200 day moving average price is $122.65. The firm has a market cap of $13.52 billion, a P/E ratio of 26.80 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter in the prior year, the business posted $1.90 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is 113.59%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LAMR shares. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company started coverage on Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. Finally, TD Cowen raised their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $125.00.

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.