Tributary Capital Management LLC Boosts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Tributary Capital Management LLC lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 46.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,692 shares of the real estate investment trust’s stock after buying an additional 3,086 shares during the quarter. Tributary Capital Management LLC’s holdings in Lamar Advertising were worth $1,180,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LAMR. Blue Trust Inc. raised its stake in shares of Lamar Advertising by 444.1% in 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 during the last quarter. Brooklyn Investment Group bought a new stake in Lamar Advertising in the 3rd quarter worth about $25,000. Concord Wealth Partners bought a new stake in Lamar Advertising in the 3rd quarter worth about $26,000. Assetmark Inc. raised its position in Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in 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 valued at $55,000 after acquiring an additional 143 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Trading Up 1.4 %

Shares of LAMR stock opened at $128.10 on Friday. 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 stock has a fifty day simple moving average of $126.16 and a two-hundred day simple moving average of $126.21. The firm has a market capitalization of $13.11 billion, a PE ratio of 25.62 and a beta of 1.50. Lamar Advertising has a 52-week low of $102.10 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the prior year, the business posted $2.04 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts predict that Lamar Advertising will post 7.49 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.37%. Lamar Advertising’s dividend payout ratio is 112.00%.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several research reports. TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company decreased their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their price objective on 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 issued a buy rating to the company’s stock. According to MarketBeat, Lamar Advertising has an average rating of “Hold” and a consensus price target of $132.40.

About Lamar Advertising

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.