Empowered Funds LLC Has $3.79 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

Empowered Funds LLC raised its stake in Lamar Advertising (NASDAQ:LAMR) by 85.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,155 shares of the real estate investment trust’s stock after buying an additional 14,390 shares during the period. Empowered Funds LLC’s holdings in Lamar Advertising were worth $3,793,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. boosted its position in Lamar Advertising by 1.2% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 20,574 shares of the real estate investment trust’s stock valued at $2,505,000 after buying an additional 242 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Lamar Advertising by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,413 shares of the real estate investment trust’s stock worth $2,242,000 after purchasing an additional 1,596 shares during the period. Hedeker Wealth LLC lifted its holdings in shares of Lamar Advertising by 1.5% during the fourth quarter. Hedeker Wealth LLC now owns 17,962 shares of the real estate investment trust’s stock worth $2,187,000 after purchasing an additional 259 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Lamar Advertising by 0.5% during the fourth quarter. State of Alaska Department of Revenue now owns 52,035 shares of the real estate investment trust’s stock worth $6,334,000 after purchasing an additional 248 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Lamar Advertising by 27.4% during the fourth quarter. Bleakley Financial Group LLC now owns 8,267 shares of the real estate investment trust’s stock worth $1,006,000 after purchasing an additional 1,776 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Down 1.4 %

LAMR opened at $124.92 on Thursday. Lamar Advertising has a 1-year low of $102.10 and a 1-year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The company has a market cap of $12.79 billion, a P/E ratio of 24.98 and a beta of 1.51. The company has a fifty day moving average price of $125.02 and a two-hundred day moving average price of $126.95.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.48%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Analyst Upgrades and Downgrades

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