Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Amalgamated Bank

Amalgamated Bank lifted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,331 shares of the real estate investment trust’s stock after purchasing an additional 176 shares during the period. Amalgamated Bank’s holdings in Lamar Advertising were worth $5,153,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LAMR. Los Angeles Capital Management LLC acquired a new stake in shares of Lamar Advertising during the third quarter valued at about $43,665,000. JPMorgan Chase & Co. grew its stake in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Lamar Advertising by 19,961.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after purchasing an additional 109,790 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after purchasing an additional 14,672 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Lamar Advertising by 96.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after buying an additional 47,746 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LAMR shares. TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Morgan Stanley upped their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased 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. Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $122.16 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm’s 50-day moving average price is $124.42 and its two-hundred day moving average price is $127.63. Lamar Advertising has a 52-week low of $108.23 and a 52-week high of $139.88. The stock has a market capitalization of $12.50 billion, a P/E ratio of 34.61 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The business had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. As a group, sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.55 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.08%. Lamar Advertising’s payout ratio is 175.64%.

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.