Lamar Advertising (NASDAQ:LAMR) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp boosted its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,601 shares of the real estate investment trust's stock after acquiring an additional 2,376 shares during the quarter. Cibc World Markets Corp's holdings in Lamar Advertising were worth $3,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of LAMR. Carmel Capital Partners LLC lifted its position in Lamar Advertising by 2.0% in the fourth quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock valued at $494,000 after purchasing an additional 81 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Lamar Advertising by 0.4% in the 4th quarter. Sanctuary Advisors LLC now owns 19,259 shares of the real estate investment trust's stock valued at $2,442,000 after buying an additional 82 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 84 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Lamar Advertising by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust's stock worth $341,000 after acquiring an additional 85 shares during the period. Finally, UMB Bank n.a. raised its position in Lamar Advertising by 14.7% in the fourth quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 90 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Lamar Advertising Price Performance

Shares of Lamar Advertising stock traded down $0.07 on Tuesday, hitting $112.79. The company's stock had a trading volume of 873,452 shares, compared to its average volume of 436,177. The company has a market capitalization of $11.55 billion, a P/E ratio of 31.95 and a beta of 1.53. Lamar Advertising has a 52-week low of $108.80 and a 52-week high of $139.88. The firm has a fifty day moving average price of $123.06 and a 200-day moving average price of $127.25. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $583.19 million. On average, equities research analysts expect that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.50%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Lamar Advertising's payout ratio is 175.64%.

Analysts Set New Price Targets

Several brokerages have commented on LAMR. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Citigroup upped their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.