CIBC Private Wealth Group LLC Cuts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

CIBC Private Wealth Group LLC lowered its stake in Lamar Advertising (NASDAQ:LAMR) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,870 shares of the real estate investment trust’s stock after selling 2,866 shares during the period. CIBC Private Wealth Group LLC’s holdings in Lamar Advertising were worth $2,508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in Lamar Advertising by 2.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust’s stock valued at $1,108,000 after purchasing an additional 215 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after buying an additional 90,933 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Lamar Advertising by 19,961.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock valued at $14,741,000 after buying an additional 109,790 shares during the period. Franklin Resources Inc. grew its holdings in Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock worth $7,017,000 after acquiring an additional 14,672 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Lamar Advertising by 6.3% in the fourth quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust’s stock valued at $598,000 after acquiring an additional 292 shares during the period. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of analyst reports. Citigroup increased their target price on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $134.60.

Lamar Advertising Stock Up 2.3 %

LAMR stock opened at $115.94 on Thursday. Lamar Advertising has a fifty-two week low of $108.80 and a fifty-two week high of $139.88. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 32.84 and a beta of 1.53. The business’s 50 day moving average price is $121.66 and its two-hundred day moving average price is $126.68. 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) last issued 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 company had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 5.35%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s payout ratio is presently 175.64%.

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.