Cibc World Markets Corp Boosts Holdings in Lamar Advertising (NASDAQ:LAMR)

Cibc World Markets Corp increased its holdings in Lamar Advertising (NASDAQ:LAMR) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,601 shares of the real estate investment trust’s stock after buying an additional 2,376 shares during the quarter. Cibc World Markets Corp’s holdings in Lamar Advertising were worth $3,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LAMR. Brooklyn Investment Group purchased a new position in shares of Lamar Advertising in the third quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new position in Lamar Advertising during the fourth quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Lamar Advertising by 46.6% during the fourth 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 in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Lamar Advertising by 16.8% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LAMR. JPMorgan Chase & Co. lowered their price target 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 lifted their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $134.60.

Lamar Advertising Trading Down 2.3 %

Lamar Advertising stock opened at $112.15 on Friday. The stock has a market cap of $11.48 billion, a P/E ratio of 31.77 and a beta of 1.53. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 1 year low of $108.80 and a 1 year high of $139.88. The firm’s 50 day moving average price is $123.35 and its 200-day moving average price is $127.40.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data 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. The firm had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, equities analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.53%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) 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.