Lamar Advertising (NASDAQ:LAMR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,309 shares of the real estate investment trust’s stock after selling 223 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lamar Advertising were worth $5,516,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC increased its position in Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after purchasing an additional 119,068 shares in the last quarter. State Street Corp boosted its holdings in Lamar Advertising by 0.8% in the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock worth $352,752,000 after acquiring an additional 21,852 shares during the period. Geode Capital Management LLC boosted its holdings in Lamar Advertising by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock worth $274,595,000 after acquiring an additional 90,775 shares during the period. Wellington Management Group LLP boosted its holdings in Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after acquiring an additional 617,356 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after acquiring an additional 90,933 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Citigroup upped their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Five equities 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, the company has a consensus rating of “Hold” and an average price target of $134.60.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $114.26 on Thursday. The stock has a market cap of $11.70 billion, a P/E ratio of 32.37 and a beta of 1.53. 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 stock has a 50 day moving average of $124.30 and a 200-day moving average of $127.88. Lamar Advertising has a 52 week low of $108.80 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. On average, analysts expect that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Friday, March 14th. Lamar Advertising’s dividend payout ratio is 175.64%.

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.