Lamar Advertising (NASDAQ:LAMR) Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. boosted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 6.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,915 shares of the real estate investment trust’s stock after acquiring an additional 116 shares during the period. First Citizens Bank & Trust Co.’s holdings in Lamar Advertising were worth $256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Whittier Trust Co. increased its stake in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Lamar Advertising during the 1st quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Lamar Advertising during the second quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC lifted its position in shares of Lamar Advertising by 85.8% in the first quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 145 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $136.10 on Tuesday. The company’s 50-day moving average is $128.20 and its two-hundred day moving average is $120.94. Lamar Advertising has a 1-year low of $79.94 and a 1-year high of $139.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 27.95 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter in the previous year, the company posted $1.90 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Analysts forecast that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.11%. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is 114.99%.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several recent research reports. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday. TD Cowen raised their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company began coverage on Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $125.00.

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.