M&T Bank Corp Sells 5,178 Shares of Lamar Advertising (NASDAQ:LAMR)

M&T Bank Corp decreased its holdings in Lamar Advertising (NASDAQ:LAMR) by 18.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,600 shares of the real estate investment trust’s stock after selling 5,178 shares during the quarter. M&T Bank Corp’s holdings in Lamar Advertising were worth $2,402,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Lamar Advertising by 43.4% in the 3rd quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock valued at $141,352,000 after acquiring an additional 512,182 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Lamar Advertising by 2.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust’s stock valued at $120,336,000 after acquiring an additional 39,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lamar Advertising by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,009,456 shares of the real estate investment trust’s stock valued at $84,259,000 after acquiring an additional 6,314 shares in the last quarter. Makaira Partners LLC lifted its position in Lamar Advertising by 31.7% in the 3rd quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust’s stock valued at $63,159,000 after acquiring an additional 182,111 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Lamar Advertising by 23.7% in the 3rd quarter. HighTower Advisors LLC now owns 600,059 shares of the real estate investment trust’s stock valued at $50,128,000 after acquiring an additional 115,006 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Down 0.5 %

Shares of LAMR stock opened at $116.96 on Thursday. The company has a 50 day moving average of $115.46 and a 200-day moving average of $106.56. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $121.99. The firm has a market cap of $11.94 billion, a P/E ratio of 24.02 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business had revenue of $498.15 million during the quarter, compared to analysts’ expectations of $496.98 million. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.45%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 14.98% of the company’s stock.

Wall Street Analyst Weigh In

LAMR has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Morgan Stanley increased their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday.

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.