First Citizens Bank & Trust Co. Raises Holdings in Lamar Advertising (NASDAQ:LAMR)

First Citizens Bank & Trust Co. boosted its position in Lamar Advertising (NASDAQ:LAMR) by 14.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,192 shares of the real estate investment trust’s stock after buying an additional 277 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Lamar Advertising were worth $267,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Tributary Capital Management LLC raised its position in shares of Lamar Advertising by 46.7% in the fourth quarter. Tributary Capital Management LLC now owns 9,692 shares of the real estate investment trust’s stock valued at $1,180,000 after purchasing an additional 3,086 shares during the period. Dynamic Advisor Solutions LLC grew its stake in Lamar Advertising by 0.5% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 44,424 shares of the real estate investment trust’s stock valued at $5,408,000 after buying an additional 224 shares in the last quarter. Fifth Third Bancorp raised its holdings in Lamar Advertising by 40.4% during the 4th quarter. Fifth Third Bancorp now owns 5,109 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 1,471 shares during the period. Impact Partnership Wealth LLC lifted its position in shares of Lamar Advertising by 24.9% during the fourth quarter. Impact Partnership Wealth LLC now owns 6,635 shares of the real estate investment trust’s stock worth $808,000 after acquiring an additional 1,323 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. boosted its holdings in shares of Lamar Advertising by 6.6% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,390 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 147 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on LAMR. Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. TD Cowen upped their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Down 1.4 %

Shares of NASDAQ LAMR opened at $126.41 on Wednesday. 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 of $126.15 and a 200-day moving average of $126.47. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 25.28 and a beta of 1.50. Lamar Advertising has a 12 month low of $102.10 and a 12 month high of $139.88.

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

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.43%. The ex-dividend date was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio (DPR) is currently 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.