Lamar Advertising (NASDAQ:LAMR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its holdings in Lamar Advertising (NASDAQ:LAMR) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,965 shares of the real estate investment trust’s stock after selling 432 shares during the period. Bank of Montreal Can’s holdings in Lamar Advertising were worth $2,261,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Blue Trust Inc. increased its holdings in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Whittier Trust Co. increased its stake in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Lamar Advertising in the third quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising during the second quarter worth approximately $30,000. Finally, Assetmark Inc. increased its position in shares of Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $131.51 on Friday. The company’s 50-day moving average is $132.50 and its two-hundred day moving average is $124.59. Lamar Advertising has a 1-year low of $100.15 and a 1-year high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 26.30 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 earnings per share. Analysts forecast that Lamar Advertising will post 7.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LAMR shares. 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 note on Monday, November 11th. Wells Fargo & Company dropped their price objective on shares of 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. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen boosted their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lamar Advertising has an average rating of “Hold” and an average price target of $132.40.

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.