PNC Financial Services Group Inc. Reduces Stock Position in Lamar Advertising (NASDAQ:LAMR)

PNC Financial Services Group Inc. lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 11.2% during the third quarter, Holdings Channel reports. The firm owned 45,532 shares of the real estate investment trust’s stock after selling 5,769 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lamar Advertising were worth $6,083,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its holdings in Lamar Advertising by 18.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,301 shares of the real estate investment trust’s stock worth $394,000 after purchasing an additional 522 shares in the last quarter. PEAK6 Investments LLC bought a new position in Lamar Advertising in the first quarter worth about $765,000. BOKF NA lifted its holdings in Lamar Advertising by 30.7% in the first quarter. BOKF NA now owns 34,867 shares of the real estate investment trust’s stock worth $4,048,000 after buying an additional 8,182 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Lamar Advertising by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock valued at $67,664,000 after acquiring an additional 22,382 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Lamar Advertising by 19.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,428 shares of the real estate investment trust’s stock worth $409,000 after acquiring an additional 558 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $130.35 on Friday. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 26.07 and a beta of 1.52. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 1 year low of $97.54 and a 1 year high of $139.88. The firm’s 50-day moving average is $132.41 and its 200 day moving average is $123.73.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same quarter in the previous year, the company earned $2.04 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were issued a $1.40 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.30%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Analyst Upgrades and Downgrades

LAMR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. TD Cowen upped their target price on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Morgan Stanley upped their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.40.

About Lamar Advertising

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.