CIBC Private Wealth Group LLC Sells 2,866 Shares of Lamar Advertising (NASDAQ:LAMR)

CIBC Private Wealth Group LLC lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,870 shares of the real estate investment trust's stock after selling 2,866 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Lamar Advertising were worth $2,508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new position in shares of Lamar Advertising during the fourth quarter valued at $25,000. Blue Trust Inc. raised its holdings in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 108 shares during the last quarter. Versant Capital Management Inc lifted its position 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 purchasing an additional 143 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Lamar Advertising by 16.8% in the 4th 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 during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Lamar Advertising by 14.7% during the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 93.78% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently weighed in on LAMR. JPMorgan Chase & Co. cut 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. Citigroup upped their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $134.60.

Lamar Advertising Trading Down 0.1 %

Lamar Advertising stock traded down $0.15 during midday trading on Monday, hitting $104.88. 1,692,196 shares of the stock were exchanged, compared to its average volume of 463,767. Lamar Advertising has a 52 week low of $100.00 and a 52 week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $10.74 billion, a PE ratio of 29.71 and a beta of 1.34. The company has a fifty day simple moving average of $120.40 and a two-hundred day simple moving average of $126.13.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million for the quarter, compared to analysts' expectations of $583.19 million. Equities research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 5.91%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's payout ratio is presently 175.64%.

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.