Forte Capital LLC ADV Lowers Stake in Lamar Advertising (NASDAQ:LAMR)

Forte Capital LLC ADV lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,837 shares of the real estate investment trust’s stock after selling 91 shares during the period. Forte Capital LLC ADV’s holdings in Lamar Advertising were worth $2,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of Lamar Advertising by 444.1% during the third 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 in the last quarter. Brooklyn Investment Group acquired a new position in shares of Lamar Advertising during the third quarter worth $25,000. Concord Wealth Partners acquired a new position in shares of Lamar Advertising during the third quarter worth $26,000. Assetmark Inc. increased its position in shares of Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $122.31 on Friday. Lamar Advertising has a one year low of $106.61 and a one year high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 24.46 and a beta of 1.51. The firm’s fifty day moving average is $124.74 and its two-hundred day moving average is $127.31.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. Research analysts expect that Lamar Advertising will post 7.49 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.07%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company cut their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.