CIBC Asset Management Inc Has $328,000 Stock Position in Lamar Advertising (NASDAQ:LAMR)

CIBC Asset Management Inc increased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,696 shares of the real estate investment trust’s stock after acquiring an additional 144 shares during the quarter. CIBC Asset Management Inc’s holdings in Lamar Advertising were worth $328,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in 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 during the period. Brooklyn Investment Group bought a new stake in shares of Lamar Advertising during the third quarter worth approximately $25,000. Concord Wealth Partners acquired a new position in Lamar Advertising in the third quarter valued at approximately $26,000. Assetmark Inc. boosted its stake in Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 143 shares during the period. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday. TD Cowen raised their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note 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 for the company in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $133.40.

Lamar Advertising Trading Down 0.3 %

NASDAQ LAMR opened at $121.91 on Monday. Lamar Advertising has a 52 week low of $107.22 and a 52 week high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50 day moving average price is $124.60 and its two-hundred day moving average price is $127.59. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 34.54 and a beta of 1.51.

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

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is presently 175.64%.

Lamar Advertising 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.