M&T Bank Corp grew its position in Lamar Advertising (NASDAQ:LAMR - Free Report) by 25.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,395 shares of the real estate investment trust's stock after purchasing an additional 3,916 shares during the period. M&T Bank Corp's holdings in Lamar Advertising were worth $2,591,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group bought a new position in Lamar Advertising during the third quarter valued at about $25,000. Whittier Trust Co. increased its holdings in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock worth $26,000 after buying an additional 130 shares during the last quarter. Concord Wealth Partners purchased a new stake in Lamar Advertising during the third quarter worth about $26,000. Finally, MFA Wealth Advisors LLC bought a new stake in Lamar Advertising in the second quarter worth about $30,000. 93.78% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
LAMR has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Wells Fargo & Company reduced their price objective on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. Finally, TD Cowen increased their price target on Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of "Hold" and an average price target of $132.40.
View Our Latest Research Report on Lamar Advertising
Lamar Advertising Stock Performance
LAMR stock traded up $0.04 during midday trading on Friday, reaching $129.00. 311,307 shares of the company's stock traded hands, compared to its average volume of 408,648. The firm has a market capitalization of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50. The company has a 50-day moving average price of $132.21 and a two-hundred day moving average price of $125.01. Lamar Advertising has a 52 week low of $100.15 and a 52 week high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company had revenue of $564.10 million during the quarter, compared to analysts' expectations of $568.91 million. During the same quarter last year, the firm posted $2.04 earnings per share. Lamar Advertising's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lamar Advertising will post 7.52 EPS for the current year.
Lamar Advertising Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Wednesday, December 18th. Lamar Advertising's payout ratio is 112.00%.
About Lamar Advertising
(
Free Report)
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.
Featured Articles
Before you consider Lamar Advertising, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lamar Advertising wasn't on the list.
While Lamar Advertising currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
