M&T Bank Corp Has $2.59 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

M&T Bank Corp grew its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 25.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,395 shares of the real estate investment trust’s stock after purchasing an additional 3,916 shares during the quarter. M&T Bank Corp’s holdings in Lamar Advertising were worth $2,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LAMR. Boston Trust Walden Corp boosted its position in Lamar Advertising by 2.3% during the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust’s stock worth $47,774,000 after purchasing an additional 8,857 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Lamar Advertising by 13.1% during the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock worth $7,225,000 after buying an additional 6,979 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Lamar Advertising during the 3rd quarter worth about $43,665,000. Acadian Asset Management LLC grew its stake in Lamar Advertising by 179.4% in the 2nd quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust’s stock valued at $2,226,000 after buying an additional 11,967 shares during the last quarter. Finally, Gallacher Capital Management LLC bought a new position in Lamar Advertising in the 2nd quarter valued at about $807,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.0 %

Lamar Advertising stock opened at $129.00 on Friday. Lamar Advertising has a twelve month low of $100.15 and a twelve month 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 firm has a 50 day moving average price of $132.29 and a 200-day moving average price of $124.94. The company has a market capitalization of $13.20 billion, a P/E ratio of 25.80 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.04 earnings per share. As a group, equities analysts predict that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.34%. The ex-dividend date is Wednesday, December 18th. Lamar Advertising’s dividend payout ratio is 112.00%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LAMR. Wells Fargo & Company dropped their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. 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 report on Monday, November 11th. Finally, Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Five 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 company presently has an average rating of “Hold” and a consensus price target of $132.40.

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.