Lamar Advertising (NASDAQ:LAMR) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its position in shares of Lamar Advertising (NASDAQ:LAMR) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,230 shares of the real estate investment trust’s stock after selling 1,165 shares during the quarter. M&T Bank Corp’s holdings in Lamar Advertising were worth $2,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Lamar Advertising during the third quarter valued at $25,000. Assetmark Inc. grew 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 buying an additional 117 shares during the period. Blue Trust Inc. lifted its holdings in Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc lifted its holdings in 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 valued at $55,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $125.28 on Monday. The company’s 50-day moving average price is $124.53 and its 200-day moving average price is $127.99. 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 $12.83 billion, a P/E ratio of 35.49 and a beta of 1.53. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 4.95%. Lamar Advertising’s payout ratio is 175.64%.

Analysts Set New Price Targets

Several equities analysts have issued reports on LAMR shares. JPMorgan Chase & Co. decreased their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company decreased their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Citigroup increased their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $134.60.

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.