Mutual of America Capital Management LLC Cuts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

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

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in Lamar Advertising by 25.6% during the fourth quarter. QRG Capital Management Inc. now owns 18,948 shares of the real estate investment trust’s stock worth $2,307,000 after acquiring an additional 3,864 shares during the period. Proficio Capital Partners LLC bought a new stake in Lamar Advertising during the fourth quarter worth $3,557,000. Oppenheimer Asset Management Inc. bought a new stake in Lamar Advertising during the fourth quarter worth $368,000. K.J. Harrison & Partners Inc bought a new stake in Lamar Advertising during the fourth quarter worth $908,000. Finally, Checchi Capital Advisers LLC lifted its holdings in Lamar Advertising by 26.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,142 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 453 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $124.41 on Tuesday. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 52-week low of $108.80 and a 52-week high of $139.88. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 35.24 and a beta of 1.51. The business’s fifty day moving average is $124.46 and its 200 day moving average is $127.86.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The company had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Research analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.98%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. Lamar Advertising’s payout ratio is presently 175.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Citigroup boosted their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. TD Cowen boosted their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock 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, Lamar Advertising presently has an average rating of “Hold” and an average target price of $134.60.

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.