M&T Bank Corp cut its stake in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 142,243 shares of the real estate investment trust’s stock after selling 9,970 shares during the quarter. M&T Bank Corp owned approximately 0.14% of Lamar Advertising worth $11,733,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of LAMR. Quadrant Capital Group LLC raised its stake in shares of Lamar Advertising by 64.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 290 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 114 shares during the period. CWM LLC raised its stake in shares of Lamar Advertising by 40.4% during the 3rd quarter. CWM LLC now owns 389 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 112 shares during the period. Private Trust Co. NA purchased a new stake in shares of Lamar Advertising during the second quarter worth approximately $35,000. Institutional & Family Asset Management LLC increased its position in shares of Lamar Advertising by 652.2% during the third quarter. Institutional & Family Asset Management LLC now owns 519 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 450 shares in the last quarter. Finally, Ellevest Inc. increased its position in shares of Lamar Advertising by 1,286.4% during the third quarter. Ellevest Inc. now owns 610 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 566 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on LAMR. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th. Citigroup increased their price target on Lamar Advertising from $108.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. Finally, StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, February 24th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $116.75.
Lamar Advertising Stock Performance
Lamar Advertising (NASDAQ:LAMR – Get Rating) last announced its quarterly earnings data on Friday, February 24th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($1.04). The business had revenue of $535.51 million during the quarter, compared to analysts’ expectations of $536.42 million. Lamar Advertising had a net margin of 21.58% and a return on equity of 35.56%. Lamar Advertising’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 EPS. As a group, analysts predict that Lamar Advertising will post 7.24 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a $1.25 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.20. The ex-dividend date is Thursday, March 16th. This represents a $5.00 annualized dividend and a dividend yield of 5.14%. Lamar Advertising’s payout ratio is 111.11%.
Lamar Advertising Company Profile
Lamar Advertising Co engages in advertising services. The firm rents advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.
- Get a free copy of the StockNews.com research report on Lamar Advertising (LAMR)
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