Mutual of America Capital Management LLC Trims Stake in Lamar Advertising (NASDAQ:LAMR)

Mutual of America Capital Management LLC trimmed its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,452 shares of the real estate investment trust’s stock after selling 1,045 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lamar Advertising were worth $5,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LAMR. Brooklyn Investment Group purchased a new position in Lamar Advertising during the third quarter worth about $25,000. Assetmark Inc. grew its position in 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 buying an additional 117 shares in the last quarter. Blue Trust Inc. grew its position in Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 108 shares in the last quarter. Versant Capital Management Inc grew its position in Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in Lamar Advertising by 16.8% during the fourth quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 84 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. TD Cowen upped their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Morgan Stanley upped their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Trading Up 0.1 %

Shares of LAMR stock opened at $124.41 on Tuesday. The stock has a market capitalization of $12.74 billion, a PE ratio of 35.24 and a beta of 1.51. Lamar Advertising has a 1-year low of $108.80 and a 1-year high of $139.88. The business has a 50-day moving average of $124.46 and a 200 day moving average of $127.86. 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 (NASDAQ:LAMR) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.55 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 4.98%. Lamar Advertising’s dividend payout ratio is presently 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.