Lamar Advertising Co (LAMR) Position Increased by Bank of Montreal Can

Bank of Montreal Can boosted its stake in Lamar Advertising Co (NASDAQ:LAMR) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,781 shares of the real estate investment trust’s stock after acquiring an additional 2,551 shares during the period. Bank of Montreal Can’s holdings in Lamar Advertising were worth $4,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of LAMR. Janus Henderson Group PLC raised its holdings in shares of Lamar Advertising by 2.2% during the second quarter. Janus Henderson Group PLC now owns 8,276,817 shares of the real estate investment trust’s stock worth $565,389,000 after purchasing an additional 179,508 shares during the period. BlackRock Inc. raised its holdings in shares of Lamar Advertising by 1.6% during the second quarter. BlackRock Inc. now owns 7,987,014 shares of the real estate investment trust’s stock worth $545,594,000 after purchasing an additional 126,718 shares during the period. Schroder Investment Management Group raised its holdings in shares of Lamar Advertising by 214.2% during the second quarter. Schroder Investment Management Group now owns 3,525,888 shares of the real estate investment trust’s stock worth $75,220,000 after purchasing an additional 2,403,637 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Lamar Advertising by 7.3% during the second quarter. Victory Capital Management Inc. now owns 3,065,269 shares of the real estate investment trust’s stock worth $209,388,000 after purchasing an additional 207,394 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Lamar Advertising by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 2,303,819 shares of the real estate investment trust’s stock worth $157,374,000 after purchasing an additional 165,182 shares during the period. 83.39% of the stock is currently owned by hedge funds and other institutional investors.

LAMR has been the topic of a number of research reports. MKM Partners increased their target price on shares of Lamar Advertising to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Wells Fargo & Co increased their target price on shares of Lamar Advertising from $74.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, August 9th. ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. BidaskClub raised shares of Lamar Advertising from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 15th. Finally, Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $77.33.

Lamar Advertising stock opened at $74.85 on Friday. The stock has a market cap of $7.40 billion, a PE ratio of 14.82 and a beta of 1.13. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48. Lamar Advertising Co has a one year low of $61.36 and a one year high of $79.40.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06. The business had revenue of $419.80 million during the quarter, compared to analyst estimates of $416.75 million. Lamar Advertising had a net margin of 18.93% and a return on equity of 27.75%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Equities research analysts predict that Lamar Advertising Co will post 5.09 EPS for the current year.

Lamar Advertising Company Profile

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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