First Citizens Bank & Trust Co. Purchases 277 Shares of Lamar Advertising (NASDAQ:LAMR)

First Citizens Bank & Trust Co. grew its position in Lamar Advertising (NASDAQ:LAMR) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,192 shares of the real estate investment trust’s stock after purchasing an additional 277 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Lamar Advertising were worth $267,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC raised its holdings in shares of Lamar Advertising by 2.2% during the third quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock valued at $500,000 after purchasing an additional 80 shares during the period. Private Advisor Group LLC raised its stake in Lamar Advertising by 0.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock worth $1,576,000 after buying an additional 82 shares during the period. Jamison Private Wealth Management Inc. boosted its holdings in Lamar Advertising by 6.6% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 84 shares in the last quarter. Avior Wealth Management LLC grew its stake in Lamar Advertising by 16.8% in the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 84 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Lamar Advertising by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LAMR. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. TD Cowen lifted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Morgan Stanley upped their target price 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. Finally, Wells Fargo & Company cut their price target on 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Trading Down 1.4 %

NASDAQ:LAMR opened at $126.41 on Wednesday. Lamar Advertising has a 52 week low of $102.10 and a 52 week high of $139.88. The firm has a 50-day moving average price of $126.15 and a two-hundred day moving average price of $126.47. 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 firm has a market cap of $12.94 billion, a price-to-earnings ratio of 25.28 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued 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). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 earnings per share. On average, equities analysts expect that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.43%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

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.