Cornercap Investment Counsel Inc. Has $750,000 Holdings in Lamar Advertising (NASDAQ:LAMR)

Cornercap Investment Counsel Inc. lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,157 shares of the real estate investment trust’s stock after selling 224 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Lamar Advertising were worth $750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising in the third quarter valued at about $25,000. Rialto Wealth Management LLC bought a new stake in Lamar Advertising in the 4th quarter worth about $25,000. Blue Trust Inc. increased its stake in Lamar Advertising by 58.4% in the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 108 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 84 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup increased their price target on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research report 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 on the stock in a research note on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $112.46 on Friday. The business’s 50 day simple moving average is $122.38 and its 200 day simple moving average is $126.95. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 31.86 and a beta of 1.53. 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 (NASDAQ:LAMR) last issued its quarterly earnings results 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 return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Sell-side analysts forecast 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. Stockholders of record on Friday, March 14th were given a $1.55 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.51%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is 175.64%.

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.