M&T Bank Corp Acquires 3,916 Shares of Lamar Advertising (NASDAQ:LAMR)

M&T Bank Corp boosted its stake in Lamar Advertising (NASDAQ:LAMR) by 25.3% during the 3rd quarter, HoldingsChannel.com reports. 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 hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake 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 valued at $25,000 after purchasing an additional 151 shares in the last quarter. Brooklyn Investment Group bought a new stake in Lamar Advertising during the 3rd quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in shares of Lamar Advertising during the 3rd quarter worth approximately $26,000. Whittier Trust Co. raised its position in shares of Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Finally, 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 valued at $30,000 after purchasing an additional 117 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Trading Up 0.0 %

LAMR stock opened at $129.00 on Friday. Lamar Advertising has a 12 month low of $100.15 and a 12 month high of $139.88. The firm’s 50-day moving average is $132.29 and its 200 day moving average is $124.94. The company has a market capitalization of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results 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 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.04 earnings per share. On average, research analysts anticipate 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 issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, December 18th. Lamar Advertising’s payout ratio is 112.00%.

Wall Street Analysts Forecast Growth

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

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.