Mitsubishi UFJ Trust & Banking Corp Trims Position in Lamar Advertising (NASDAQ:LAMR)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,072 shares of the real estate investment trust’s stock after selling 1,277 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Lamar Advertising worth $7,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC grew its stake in shares of Lamar Advertising by 71.0% in the 3rd quarter. Cerity Partners LLC now owns 22,229 shares of the real estate investment trust’s stock valued at $2,970,000 after buying an additional 9,232 shares during the period. Brooklyn Investment Group acquired a new position in Lamar Advertising in the third quarter valued at approximately $25,000. BNP Paribas Financial Markets increased its stake in Lamar Advertising by 96.0% during the third quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock worth $13,026,000 after acquiring an additional 47,746 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Lamar Advertising by 10.5% during the third quarter. Glenmede Trust Co. NA now owns 91,262 shares of the real estate investment trust’s stock worth $12,193,000 after acquiring an additional 8,651 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its position in Lamar Advertising by 44.4% in the third quarter. CreativeOne Wealth LLC now owns 2,470 shares of the real estate investment trust’s stock valued at $330,000 after purchasing an additional 760 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup increased 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. JPMorgan Chase & Co. lowered their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $134.60.

Lamar Advertising Price Performance

LAMR stock opened at $112.46 on Friday. The business’s fifty day moving average price is $122.38 and its 200 day moving average price is $126.95. Lamar Advertising has a 12-month low of $108.80 and a 12-month high of $139.88. The company has a market capitalization of $11.52 billion, a PE ratio of 31.86 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.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million for the quarter, compared to analysts’ expectations of $583.19 million. On average, sell-side analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio (DPR) is currently 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.