Versant Capital Management Inc Increases Stock Position in Lamar Advertising (NASDAQ:LAMR)

Versant Capital Management Inc raised its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 46.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 450 shares of the real estate investment trust’s stock after purchasing an additional 143 shares during the period. Versant Capital Management Inc’s holdings in Lamar Advertising were worth $55,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its holdings in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Lamar Advertising in the third quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in shares of Lamar Advertising during the third quarter valued at approximately $26,000. Assetmark Inc. lifted its position in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Lamar Advertising during the second quarter valued at approximately $45,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR opened at $121.66 on Monday. Lamar Advertising has a 52 week low of $100.15 and a 52 week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 24.33 and a beta of 1.50. The business has a 50-day simple moving average of $128.71 and a two-hundred day simple moving average of $125.76.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. Lamar Advertising’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.04 EPS. On average, analysts expect that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LAMR shares. Morgan Stanley boosted 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 note on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. TD Cowen raised their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $132.40.

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.