CIBC Asset Management Inc Has $341,000 Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

CIBC Asset Management Inc grew its position in Lamar Advertising (NASDAQ:LAMR) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,552 shares of the real estate investment trust’s stock after purchasing an additional 85 shares during the period. CIBC Asset Management Inc’s holdings in Lamar Advertising were worth $341,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LAMR. Sei Investments Co. boosted its stake in shares of Lamar Advertising by 31.2% in the 1st quarter. Sei Investments Co. now owns 16,085 shares of the real estate investment trust’s stock valued at $1,921,000 after purchasing an additional 3,829 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Lamar Advertising by 1.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,205 shares of the real estate investment trust’s stock valued at $3,390,000 after purchasing an additional 549 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Lamar Advertising by 18.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,301 shares of the real estate investment trust’s stock valued at $394,000 after purchasing an additional 522 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in shares of Lamar Advertising in the 1st quarter valued at $765,000. Finally, BOKF NA boosted its stake in shares of Lamar Advertising by 30.7% in the 1st quarter. BOKF NA now owns 34,867 shares of the real estate investment trust’s stock valued at $4,048,000 after purchasing an additional 8,182 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $129.27 on Friday. The stock has a market capitalization of $13.23 billion, a P/E ratio of 25.51 and a beta of 1.52. Lamar Advertising has a 1-year low of $97.52 and a 1-year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The business has a 50-day moving average price of $132.36 and a two-hundred day moving average price of $123.60.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data 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). The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 earnings per share. Equities analysts predict that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.33%. Lamar Advertising’s dividend payout ratio is 112.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on LAMR shares. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target 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. TD Cowen lifted their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Company 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.