Tributary Capital Management LLC Acquires 158 Shares of Lamar Advertising (NASDAQ:LAMR)

Tributary Capital Management LLC boosted its holdings in Lamar Advertising (NASDAQ:LAMR) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,390 shares of the real estate investment trust’s stock after purchasing an additional 158 shares during the quarter. Tributary Capital Management LLC’s holdings in Lamar Advertising were worth $892,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LAMR. Toronto Dominion Bank boosted its position in shares of Lamar Advertising by 1.2% during the third quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust’s stock valued at $801,000 after buying an additional 112 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Lamar Advertising by 2.8% during the first quarter. EP Wealth Advisors LLC now owns 4,129 shares of the real estate investment trust’s stock valued at $480,000 after buying an additional 112 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of Lamar Advertising by 2.5% during the first quarter. Continuum Advisory LLC now owns 4,606 shares of the real estate investment trust’s stock valued at $460,000 after buying an additional 113 shares during the last quarter. First Hawaiian Bank boosted its position in shares of Lamar Advertising by 1.5% during the fourth quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust’s stock valued at $842,000 after buying an additional 116 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Lamar Advertising by 4.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,841 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 118 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several analyst reports. Morgan Stanley lifted their target price on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $116.57 on Monday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $121.99. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 24.04 and a beta of 1.50. The business’s fifty day moving average is $109.90 and its 200 day moving average is $99.36.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The company had revenue of $555.91 million for the quarter, compared to the consensus estimate of $549.84 million. During the same quarter in the previous year, the firm posted $1.91 earnings per share. Research analysts predict that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a $1.30 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, March 14th. Lamar Advertising’s dividend payout ratio is presently 107.22%.

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.