PNC Financial Services Group Inc. Buys 155 Shares of Lamar Advertising Company (NASDAQ:LAMR)

PNC Financial Services Group Inc. increased its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,464 shares of the real estate investment trust’s stock after buying an additional 155 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lamar Advertising were worth $5,173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in Lamar Advertising during the 1st quarter worth $28,000. HHM Wealth Advisors LLC lifted its position in shares of Lamar Advertising by 26,900.0% during the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 269 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in Lamar Advertising by 346.0% during the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 218 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Lamar Advertising by 106.7% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 143 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Lamar Advertising in the 1st quarter worth about $60,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $124.56 on Thursday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 30.23 and a beta of 1.36. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The firm’s 50-day simple moving average is $122.59 and its two-hundred day simple moving average is $119.60.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. The company had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. As a group, equities analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $1.55 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 5.0%. Lamar Advertising’s payout ratio is presently 150.49%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and increased their price target for the company from $114.00 to $135.00 in a research report on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $136.00.

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.