Lamar Advertising (NASDAQ:LAMR) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 40.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,109 shares of the real estate investment trust’s stock after buying an additional 1,471 shares during the period. Fifth Third Bancorp’s holdings in Lamar Advertising were worth $622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Lamar Advertising by 444.1% during the third 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 in the last quarter. Brooklyn Investment Group acquired a new position in Lamar Advertising during the 3rd quarter valued at about $25,000. Concord Wealth Partners bought a new stake in shares of Lamar Advertising during the 3rd quarter worth about $26,000. Assetmark Inc. lifted its stake in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Lamar Advertising by 46.6% in the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 143 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LAMR shares. TD Cowen upped their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley upped 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. Wells Fargo & Company lowered their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Up 1.0 %

Shares of Lamar Advertising stock opened at $126.79 on Friday. Lamar Advertising has a 12-month low of $102.10 and a 12-month high of $139.88. The firm has a market capitalization of $12.98 billion, a PE ratio of 25.36 and a beta of 1.50. 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 stock’s fifty day moving average is $126.11 and its 200-day moving average is $126.46.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the previous year, the firm posted $2.04 EPS. Lamar Advertising’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that Lamar Advertising will post 7.49 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising’s payout ratio is 112.00%.

About Lamar Advertising

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.